Bruce Willis, Petra settle dispute

ERJ staff report (TB)

News & FeaturesBruce Willis, Petra settle disputeLOS ANGELS (Dec. 1, 2008)-The Petra Group and Bruce Willis have settled a lawsuit that stemmed from the actor trying to recoup an investment he made in Green Rubber Inc., which is owned by Petra.

Willis had filed suit in the U.S. District Court for the Central District of California, trying to get Petra to pay back the remaining $900,000 of a $2 million investment he had made in the company. Willis asked for his money back after an initial public offering Green Rubber was planning for the AIM market in London did not occur.

But the two sides settled their differences and the case was settled amicably out of court, according to a Petra spokesman and published reports quoting Willis' attorney.

“Basically the whole matter was a series of miscommunications,” the Petra spokesman said. “Bruce will remain a shareholder and the case has been dropped.”

From Rubber & Plastics News (A Crain publication)