Willis Successful in Lawsuit Over Green Rubber
Posted: Friday, November 21st, 2008 at 1:39 pm
Hollywood actor Bruce Willis has successfully managed to get back the whole of his investment after he sued a Malaysian prince and his company following an investment of two million dollars. The lawsuit has apparently been resolved amicably, and the problem stemmed from miscommunication according to reports.
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 the two million dollars. He had been expecting to see profits through an initial public offering in the third quarter of this year but this did not happen.
Willis then tried to take back his investment, and although he received back $1.1 million of his investment he did not received back the remaining $900,000, although he had been assured that the money was going to be returned.
Willis said: “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. I continue to believe in the green rubber technology and the vast potential it holds for the environment.”
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