MJ Creditors Claims - Tens of Millions of $$$
Michael Jackson's estate may be making serious money, but they are also dealing with claims upwards of $20 million, sources tell TMZ.
We're told the best guess is that when the door finally shuts on people who claim Michael Jackson owed them money, the grand total will exceed $20 mil. That includes a $5 million claim from a memorabilia collector, a $1 million claim from someone who wants a cut of the "Thriller" music video, a $2.3 million claim from Dr. Tohme Tohme and a $1.5 million claim from a law firm (there are a number of other law firms that want a piece of the estate).
That does not mean -- by any stretch -- the estate will pay all the claims. We're told some of them are patently bogus and lawyers for the estate will not pay, unless a judge orders them to ante up.
http://www.tmz.com/2010/01/03/michael-jackson-creditors-claims-millions/
people's comments below are so bad !!!! <!-- s:evil: -->:evil:<!-- s:evil: --> <!-- s:evil: -->:evil:<!-- s:evil: -->
We're told the best guess is that when the door finally shuts on people who claim Michael Jackson owed them money, the grand total will exceed $20 mil. That includes a $5 million claim from a memorabilia collector, a $1 million claim from someone who wants a cut of the "Thriller" music video, a $2.3 million claim from Dr. Tohme Tohme and a $1.5 million claim from a law firm (there are a number of other law firms that want a piece of the estate).
That does not mean -- by any stretch -- the estate will pay all the claims. We're told some of them are patently bogus and lawyers for the estate will not pay, unless a judge orders them to ante up.
http://www.tmz.com/2010/01/03/michael-jackson-creditors-claims-millions/
people's comments below are so bad !!!! <!-- s:evil: -->:evil:<!-- s:evil: --> <!-- s:evil: -->:evil:<!-- s:evil: -->
Comments
Peace to you Michael and Peace to the fans on the forum!!
But, isn't the article a good sign?
"the grand total will exceed $ 20 mil."
It was reported, that Michael was in debt with $ 400 mil.!
Wouldn't ALL creditors have to do their claim NOW, because as soon this file is closed and they didn't, they won't get any money?
The Estate didn't pay anyone, yet, I guess?
So, this again shows us, that everything reported about his debts was false!
Or am I completely wrong here?
He had huge unpaid loans that he took out against his Sony catalogue and Neverland...that's where the big debt comes into play, not from these claimants. I happen to believe Michael was very much in debt, but that is different than being bankrupt. I actually think it was the main reason for the hoax.