Bruce Willis is seeking a partial payment for endorsing troubled French liquor brand Belvédère SA for three years.
The Die Hard star struck a deal with bosses to promote the brand's Sobieski line of vodka in exchange for a 2.6 per cent stake in the firm in 2009, and he starred in a string of TV commercials and newspaper adverts.
However the firm has suffered a decline in its stock and is trying to cope with debts of $977 million, according to the Wall Street Journal.
Executives at the company agreed Willis would be handed $26 million if stocks fell below a certain level, and his representatives met with other creditors in Paris, France on Tuesday to discuss how the business could restructure debts.
Willis' team will try and negotiate a partial payment as the company has reportedly admitted it cannot pay out the amount in full.