Lloyd’s of London will escape having to make a multi-million pound payout to the promoter of Michael’s comeback tour, if Conrad Murray is convicted of involuntary manslaughter.
The insurance policy taken out by AEG, owners of the O2 Arena where Michael’s fifty date, ‘This Is It,’ concert series was to take place, stipulates that a payout would only occur if he failed to perform due to accidental death.
In the event of Dr Conrad Murray being convicted, the syndicate of Lloyd’s insurers behind the policy will not have to pay a penny, sources say.
Earlier this month, Judge Michael Pastor ruled that the cardiologist would stand trial in Los Angeles, over Michael’s death in June 2009. He is accused of giving Michael a lethal dose of Propofol, mixed with other sedatives and then failed to provide proper care.
If convicted, Murray could face up to four years in jail. He has pleaded not guilty.