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Monday, July 22, 2024

Michael Jackson Was Over $500 Million in Debt When He Died

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The executors’ attorneys at the moment are asking the court docket to “enable, authorize and approve of compensation” for the “extraordinary providers rendered” by quite a few authorized corporations on behalf of Jackson’s property, totaling to greater than $3.5 million in fee.

“On the time of Michael Jackson’s dying, his belongings have been extremely leveraged and the debt in some {cases} was in default,” the court docket doc learn. “The Executors, with the help of their authorized group, labored to convey all debt present, and negotiated and restructured the debt at rates of interest way more favorable to the Property in order that the Property was capable of and has paid in full all the debt that so closely burdened Michael Jackson throughout his life.”

E! Information has reached out to Jackson’s property for remark however hasn’t heard again.

To see Jackson’s life in pictures, preserve studying.

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