Shia LaBeouf will get $800,000 back from his uncle, who he loaned the money to in 2009.
The decision was made by a judge who originally said that it would be best for LaBeouf and his uncle Barry Saide to settle out of court. When they couldn’t, she ruled that Saide must repay the loan.
Saide tried arguing that his actor nephew should accept Saide’s interest in four different companies instead of cash--the interest was used as collateral for the loan.
“The terms of the note are clear and the amount due and owing ... is forth in the note,” Bransten wrote in a decision signed Monday but posted Wednesday, reported the NY Daily News.
Under the agreement, Saide was supposed to repay the loan in 15 installments of $53,333. He hasn’t repaid any of the money.
He'll have to pay interest of as much as 9 percent under the new deal.
LaBeouf, a prolific actor, made $20 million for his starring roles in the “Transformers” films, and has also starred in his own television show, “Even Stevens,” years ago on Disney. His other hit roles include in “Holes”, “Disturbia”, and “I, Robot.”
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