Michael Jackson Estate on the Verge of Insolvency, Mother Preventing $900 Million Deal for NO Reason?

The estate of Michael Jackson is reportedly nearing an agreement to sell a 50% stake in MJ's catalog for approximately $900 million.

Apparently, a surprising source is delaying the transaction. Katherine Jackson, Michael's mother, purportedly attempted to block the deal in court. These efforts were just thwarted by the presiding justice.

Based on a court order, the proposed transaction is approved and the executors are authorized and directed to take all actions necessary to implement the proposed transaction, including but not limited to executing all contracts and performing all duties required by the estate.

Since Michael Jackson's demise in 2009, John Branca and John McClain have controlled the Jackson estate. They petitioned the court for approval of a transaction characterized in their filing as "an opportunity which they believe is to the Estate's substantial advantage and in the beneficiaries' best interests."

Michael's will provides for his mother's financial support for the remainder of her life, although the preponderance of his estate belongs to his three children.

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Katherine Jackson's reasoning for opposing the transaction remains confidential and unknown to the public. What has been reported however, is that the estate countered the argument by citing its past success in administering Jackson's catalog. According to them, the estate was on the verge of insolvency, with more than $400 million in debt encumbering Michael's most valuable assets and little or no liquidity or means to service that debt.

The Executors transformed the MJJ Business into a profitable enterprise through innovative thinking, hard work, and business acumen, as well as Michael's extraordinary creative legacy. Katherine Jackson has reportedly lodged an appeal against the deal's approval, so her efforts to prevent it from occurring are not yet over.

The Billie Jean hitmaker bequeathed his mother, Katherine, 40% of his estate. The result was that the matriarch received $100 million, which is also her current net worth. According to court documents, she continues to receive a $67,000 monthly stipend from the estate. According to reports, however, it is all spent on her children and grandchildren. Katherine stated in the 2022 Janet Jackson documentary, Janet, that she still could not speak about her deceased son.

Meanwhile, new financial reports reveal that Michael Jackson's estate spent $6.5 million on legal fees and related expenses, over $400,000 on security, and $561,000 on public relations in one year.