Will Smith has finally received payment from his close friend, Duane Martin after a settlement was reached in a lawsuit.
According to legal documentation, seen by unCrazed, Duane and a trustee presiding over his bankruptcy, have reached a deal that sees Will receiving $1.5 million, in full, that he loaned to Duane to save his property during his bankruptcy.
Duane, as part of their deal, must sell off a 5-bedroom, 6-bathroom, 9,200 sq. ft. mansion that is situated in Chatsworth, California. The trustee has found a buyer who shall make the purchase for $2.45 million — and had to sign documents claiming they do not know Tisha Campbell-Martin, Jada Pinkett Smith, Will or Duane.
From the $2.45 million, Duane is be paying the $1.5 million to Will’s company, TB Properties LLC, $122,000 in back rent, $485,000 to the bankruptcy estate and $170,560 to Roxe LLC.
Duane’s home was the subject of a fraud lawsuit filed by the bankruptcy trustee against him; believing Duane hid assets of $2.6 million under the company Roxe LLC.
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