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Estate’s Finances & Legal Documents

TMZ has reported that Michael’s Estate executors have filed legal documents explaining their handling of Michael’s business interests since he died to date.

They asked the court to redact any financial negotiation details contained in the documents in case rival companies use them against the Estate to undermine their future negotiations.

Details were given of the purchase of the mortgage on the Encino property on behalf of Katherine and Michael’s children, also the purchase of a car. They also reviewed Michael’s past loans negotiating more favourable interest rates. Included was also the funds raised from ventures they had instigated, like the ‘This Is It’ movie and album, the reprint of ‘Moonwalker’, the licensing of memorabilia involving Michael’s legacy, more favourable royalty deals from his record label and the issue of the Opus coffee table book.

To read the report from TMZ, please click here.

Source: TMZ & MJWN

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