Money

Michael Jackson’s Son Contests Estate Covering Grandma’s Legal Fees

Michael Jackson‘s youngest son Blanket has petitioned a Los Angeles judge to stop his late father’s estate from picking up his grandmother’s legal tab.

Court documents obtained and published by Billboard on Thursday (March 21) reveal that Katherine Jackson is currently challenging John Branca and John McClain (co-executors of the late King of Pop’s estate) from moving forward with an unnamed transaction.

The dispute, according to legal accounts, is costing her a substantial amount in legal fees, which Blanket argues shouldn’t be the financial responsibility of MJ’s estate.

“It is readily apparent that a reversal on appeal would be an extreme longshot,” the documents filed on behalf of the 22-year-old reads. “Given those odds, Bigi decided not to waste his resources to participate in an appeal. Nonetheless, Katherine has decided to appeal this court’s ruling. That decision is not for the benefit of the heirs.”

The Jackson kids — Prince, Blanket and Paris — initially stood with their grandmother against Branca and McClain’s transaction. However, once the probate court greenlit the two, all three children accepted the decision.

“While the disputed deal itself is not explicitly named in legal documents, it appears to be the Jackson estate’s estimated $600 million deal to sell part of the singer’s catalog to Sony,” the outlet reports.

Quincy Jones Wins $9.4M Lawsuit Over Michael Jackson Estate

Without having released any new music since the legendary singer’s untimely death, the Michael Jackson estate is worth billions of dollars.

Per documents submitted to the Los Angeles County Court in 2019 by the superstar’s legal team, his estate has earned $1.7 billion in profits since his passing.

“With the assistance of their counsel, the Executors have successfully rebuilt and enhanced Michael Jackson’s image, solidified the MJJ business as a significant entity in the entertainment industry, entered into and continue to enter into unprecedented business deals that have produced, and will in the future produce, significant revenues for the Estate,” it read.

Jackson died in June 2009, leaving his fortune to his three children. Katherine Jackson was appointed guardian ad litem till each of them turned 18 years old.

Source link

Editorial Staff

RealTech Magazine brings our readers the latest news and stories from around the world revolving around technology, business, crypto, and more.

RealTech Magazine Favicon

Leave a Reply