Aug 9 (Reuters) - Boart Longyear Ltd BLY.AX
* Reached settlement with First Pacific Advisors (first pacific) during mediation ordered by supreme court of new south wales
* First Pacific to withdraw its opposition to creditors' schemes of arrangement forming part of co's previously announced recapitalisation
* Company has agreed to certain amendments to creditors' schemes and subscription deed
* Has agreed to reimburse first pacific for fees and expenses incurred in connection with creditors' schemes, up to US$3 million