Vegas said he was owed "quite a lot of money" according to a report in The Sun. He said he hated going to court "but we're talking about it now".
His lawyers have written to Mother demanding they honour their contract. Vegas starred in the ads alongside the knitted monkey mascot.
In May Mother had planned to give the mascot to Comic Relief to avoid a lengthy custody battle over rights to the toy with administrators Deloitte & Touche, but Deloitte scotched the idea.
The receivers for ITV Digital are still hoping to sell the rights to Monkey to recoup some of its losses.
The toy was given away to ITV Digital subscribers before the company went into administration on March 27.
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