Michael Jackson will not be appearing in a London court as expected on Monday after the U.S. pop star reached a settlement "in principle" with a Bahraini prince suing him for reneging on a recording contract.

The reclusive 50-year-old had earlier said he would testify at the High Court.

"As Mr. Jackson was about to board his plane to London, he was advised by his legal team to postpone his travels since the parties had concluded a settlement in principle," a London spokeswoman for Jackson said on Sunday.

Sheikh Abdullah bin Hamad al-Khalifa, second son of the king of Bahrain, says Jackson failed to honor a contract to record a new album, write an autobiography and produce a stage play.

He also says Jackson owes him $7 million after the prince paid for legal costs, travel and other expenses in 2005 and 2006.

(Reuters November 24, 2008)