07/09/2012 04:07 EDT | Updated 09/08/2012 05:12 EDT

Funds for Bluenose II still in dispute: premier

BRIDGEWATER, N.S. - The status of $1 million in assets tied to the Bluenose II is still a mystery more than 18 months after the Nova Scotia government reached a tentative deal with the schooner's former operator.

The province has been in a public battle over the assets for the last seven years.

The Bluenose II Preservation Trust Society in Lunenburg, led by Senator Wilfred Moore, operated the schooner from 1994 to 2005.

The province reached an agreement with Moore in December 2010, but Premier Darrell Dexter now says the matter has yet to be resolved.

Dexter says the transaction has been one of the strangest ever seen in the province.

The premier says Moore is insisting the funds have been transferred to the province, but the province's lawyers say that's not the case.