Ex-peer-to-peer music sharing site LimeWire has agreed to pay $105 million in damages to record companies.

The long-running case has been in the courts for over a year as the Recording Industry Association of America (RIAA), a group which represents 13 labels including Warner and Sony music, sued the service for breaching copyright.

At one point, the RIAA estimated that it was owed $75 trillion dollars, equating to compensation for each time a song was shared and re-shared over LimeWire.

LimeWire was ordered to close in October 2010, when it was ruled that the company and its founder, Mark Gorton, were liable for damages for allowing users to pirate digital recordings.

Glee

The RIAA's CEO, Mitch Bainwol, took the opportunity to stick the boot in, saying, "We are pleased to have reached a large monetary settlement.

"Designing and operating services to profit from the theft of the world's greatest music comes with a stiff price.

"The resolution of this case is another milestone in the continuing evolution of online music to a legitimate marketplace that appropriately rewards creators."

While the RIAA is obviously pleased with the outcome, LimeWire is just glad that it's all over.

A statement from its law firm reads, "Lime Wire and its founder, Mark Gorton, are pleased that this case has concluded."

Via Reuters