Willis reaches settlement over green rubber dispute
News
-Staff
By Staff
New
Delhi
(ANI):
Hollywood
actor
bruce
willis
has
finally
reached
a
settlement
over
the
green
rubber
dispute
with
a
Malaysian
prince
and
his
company.
The
Die
Hard
actor
got
into
a
dispute
with
the
company
over
a
2million-dollar
investment
in
'green
rubber',
but
his
attorney
revealed
that
the
lawsuit
had
been
amicably
resolved,
and
that
it
resulted
from
a
series
of
miscommunications,
reports
the
China
Daily.
Willis
had
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
on
November
20.
The
lawsuit
stated
that
Willis
had
been
told
by
Sekhar
that
the
he
stood
to
profit
from
an
initial
public
offering
of
Petra
subsidiary
Elastomer
Technologies,
which
had
been
set
for
the
third
quarter
of
2008.
The
IPO
did
not
happen
and
Willis
tried
to
take
his
money
out
of
the
company.
Ja'afar,
Sekhar
and
The
Petra
Group
repaid
Willis
1.1million
dollars
of
his
original
investment,
but
Willis
said
when
he
filed
his
lawsuit
that
the
remaining
900,000
dollars
were
not
returned
despite
false
assurances
to
the
contrary
given
to
him.
However,
the
matter
has
reached
a
settlement,
and
Bruce
will
continue
to
maintain
shareholding
position
in
the
company.
"Having
resolved
the
matter,
I
will
continue
to
maintain
a
shareholding
position
in
the
company
and
I
wish
the
company,
the
directors
and
my
fellow
shareholders
the
very
best
for
the
future," Bruce
stated.
"I
continue
to
believe
in
the
green
rubber
technology
and
the
vast
potential
it
holds
for
the
environment,"
he
added.