Pam Anderson Settles Up with Real Estate Mogul

1/24/2012 2:35 PM PST

Pam Anderson Settles Up with Las Vegas Real Estate Mogul

Pam Anderson
has called a truce in her war with a Las Vegas real estate mogul  -- who sued the actress for $22.5 million last year, claiming she screwed him out of several massive condo sales.

TMZ broke the story ... Laurence Hallier filed the lawsuit against Anderson last June, claiming she agreed to promote the sale of several condominiums in the new Panorama Towers -- by making various personal appearances -- but failed to uphold her end of the bargain.

According to Hallier, Anderson flaked on appearance after appearance -- costing him millions in lost condo sales.

Hallier had promised to give Pam a free condo in exchange for her services, but ultimately refused as a result of Pam's alleged breach of agreement. In response, Pam sued him for $1 million.

Now, the two parties have finally let bygones be bygones, striking a settlement out of court. The terms of the settlement are confidential.