Michael Jackson’s debts and creditor’s claims at the time of his death in 2009 totaled more than $500 million, according to a court filing by the pop superstar’s estate that provides details of his financial woes toward the end of his life.
Jackson owed about $40 million to the tour promoter A.E.G., according to the filing, which was made in Los Angeles County Superior Court this month and earlier reported by People magazine.
The filing said that 65 creditors made claims against the singer after his death, some of which resulted in lawsuits, and that some of his debt had been “accruing interest at extremely high interest rates.”A representative for the Jackson estate, which is executed by John Branca and John McClain, did not immediately respond to a request for comment.
The estate filed the court papers as a request to authorize the payment of about $3.5 million to several legal firms for their work in the second half of 2018.
In the court filing, the executors say that they have eliminated the estate’s debt and that almost all of the creditors’ claims and litigation have been resolved.
Persons:
Michael Jackson’s, Jackson, A.E.G, John Branca, John McClain, ’
Organizations:
Court, People
Locations:
Los Angeles