Vinod glad Willis has dropped lawsuit


  • Business
  • Thursday, 27 Nov 2008

KUALA LUMPUR: The co-founder of Petra group, Datuk Vinod Shekar said on Thursday he was happy that Hollywood actor Bruce Willis had dropped his lawsuit against the company and its subsidiary Green Rubber.

Willis’ lawyer Martin Singer said in a statement the matter had been resolved “amicably” and that it had resulted from a series of “miscommunications”.

The actor of “Die Hard” said since the matter had been resolved, he would continue to maintain a shareholding position in the company.

“I continue to believe in the green rubber technology and the vast potential it holds for the environment,” Willis said.

Vinod explained on Thursday following the board’s decision last year not to seek a listing during the market upheaval, Willis asked to sell his shares back despite the company’s exceptional underlying operating performance.

“We are very surprised by the legal case was brought against us. But I am very glad that this misunderstanding with Willis has now been settled.

"I am glad that Willis has decided to remain a shareholder in Green Rubber and I am sure he will benefit from the long term success of the company,” he added.

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