Thursday, November 27, 2008

bruce willis' case against a malaysian prince is resolved

Bruce Willis has resolved his dispute with a Malaysian prince and his company over a $2 million investment in "green rubber," the actor's attorney said on Wednesday.

Willis' attorney, said that there was an amicable settlement among the parties.

On November 20, Willis sued Prince Imran Ibni Tuanku Ja'afar and Datuk Vinod B. Sekhar, principals of environmental technology company The Petra Group, in which he had invested.

The lawsuit said that Willis had been told by Sekhar that the actor was to profit from an IPO of Petra subsidiary Elastomer Technologies, which had been set for the third quarter of 2008. The IPO did not push through and Willis tried to take his money out of the company.

Ja'afar, Sekhar and The Petra Group repaid Willis $1.1 million of his original investment, but Willis said when he filed his lawsuit that the remaining $900,000 was not returned, despite false assurances to the contrary given to him.

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