With the recent death of singer Whitney Houston, many people are remembering the similarly tragic death of Michael Jackson in June 2009. Although Jackson passed away nearly three years ago, his estate continues to be a major source of debate and contention among the many people who feel they are owed a share of it.
Recently, attorneys for Jackson's estate and a former advisor to the singer filed dueling civil lawsuits in connection with an ongoing dispute over the distribution of Jackson's estate. Specifically, the advisor claims that he is entitled to a large portion of the money earned by the estate in the months and years since Jackson's death. The estate, however, claims that Jackson was under undue influence when he agreed to several deals that gave a significant financial benefit to the advisor.
In his lawsuit, the advisor claims that he helped to revive Jackson's career in the years before his death, and that he "worked diligently to create a financial and career strategy that would provide stability" for the singer and his children.
But in the lawsuit filed by the estate, Jackson's family claims that the advisor forced the singer to sign contracts granting the advisor a producer's fee for Jackson's upcoming comeback tour and awarding him more than $2 million in the refinancing of Jackson's famed Neverland Ranch.
According to the estate's lawsuit, the goal of the litigation is to "finally put a stop to abuse of fiduciary obligations owed to Jackson" and to "unwind the self-serving and unconscionable agreements" created by the advisor.
These lawsuits are only the latest in a long series of legal disputes between the estate and the advisor. It will probably be some time before Jackson's estate is settled, once and for all.
Source: Seattle Post-Intelligencer, "Jackson estate, ex-manager sue over earnings share," Anthony McCartney, Feb. 17, 2012
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