Legal and Financial truth on Michael Jackson revealed

Court documents filed in Los Angeles Superior Court this week reveal that Michael Jackson was hundreds of millions of dollars in debt at the time of his death.

The filing by attorney John Branca and A&R executive John McClain, executors of Jackson’s estate, seeks legal authorization to pay various legal firms for services provided in 2018, shedding light on Jackson’s financial state and the estate’s turnaround efforts.

The petition highlights that Jackson’s significant assets were burdened with over $500 million in debt, some accruing high interest rates and defaults. Despite these challenges and the costs associated with his planned This Is It residency, the executors have resolved most creditors’ claims and solidified the MJJ business as a key music industry entity.

Notable achievements include the profitable sale of a stake in EMI Music Publishing and the success of MJ the Musical on Broadway.

However, Jackson’s legacy faces continued scrutiny. A jury trial has been granted to Wade Robson and James Safechuck, who allege abuse and complicity by Jackson’s staff, claims the estate vehemently denies.

Meanwhile, a biopic directed by Antoine Fuqua and starring Michael Jackson’s nephew Jaafar Jackson is in the works, promising to delve into all aspects of the King of Pop’s life.

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