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Michael Jackson, Sheikh Abdullah bin Hamad al-Khalifa

Pool Photographer/Getty Images, Fred Duval/Getty Images

Michael Jackson's latest courtship is kaput.

Fresh off yesterday's news that the entertainer reached a tentative settlement in the ultimately short-lived $7 million breach-of-contract lawsuit brought by a Bahrain royal comes word that a formal resolution has been finalized.

"We are very pleased to announce an amicable settlement has been reached on confidential terms," Sheik Abdulla Bin Hamad Bin Isa Al-Khalifa's attorney, Bankim Thanki, told London's High Court this morning.

After the announcement, both legal teams briefly conferred in private before releasing a joint statement: "They wish each other well in their own respective endeavors."

The rep for Al-Khalifa, who considered Jackson a "brother," albeit one he had no problem suing, said the terms of their settlement would remain on the down-low.

"They have settled amicably and that's all we have to say."

Al-Khalifa was seeking more than $7 million in repayment from the erstwhile King of Pop for advance payments made toward an unfulfilled recording contract and various living and legal expenses.