Michael Jackson’s 92-Year-Old Mother Katherine Jackson To Testify In Trial Over Late Singer’s Estate, As She Disagrees With Selling Half His Music Catalog
The old adage says mother knows best.
In the case of the pop super star Michael Jackson and his estate, however, executors feel the musician’s mother Katherine Jackson actually doesn’t know best, and will argue why in court soon.
According to a report from Radar, Katherine Jackson, 92, is set to testify against John Branca and John McClain. The pair have reportedly been the executors of the Michael Jackson estate since the singer’s tragic passing in 2009. Reportedly, Jackson’s will includes his three children Prince, Paris, and Blanket Jackson as his beneficiaries as well as caring for his beloved mother for the rest of her life.
Katherina & Michael Jackson
It seems Branca and McClain worked out a deal for the estate they want the courts to approve, claiming to:
“have an opportunity which they believe is to the substantial advantage of the Estate and in the best interest of the beneficiaries.”
While the exact details of the deal have not been disclosed, we reported back in February there was a rumored deal to sell half the singer’s music catalog for over $800 million. It’s reported that after reviewing the deal, Katherine opposed the request, asking the courts to reject Branca and McClain’s motion. The reasoning behind the decision has been sealed along with the details of the deal.
In response, the two executors highlighted the fact that the Jackson estate was headed downhill before they turned things around. Reportedly, Michael Jackson was in serious debt at his time of death. Branca and McClain’s motion against Katherine reportedly read:
“The Estate was teetering on the verge of collapse, with more than $400 million in debt that encumbered Michael’s most significant assets and little or no liquidity or means to service that debt. Through creative thinking, hard work and business savvy—and, of course, Michael’s extraordinary creative legacy—the Executors transformed the MJJ Business into a profitable enterprise,”
The professionals also noted that Katherine was originally against the production of the late singer’s documentary “This Is It”, which the court approved. Reportedly, the film greatly added income to the estate, and became the highest-grossing concert documentary in history. Additionally, Branca and McClain note that Jackson’s three children have not apposed the deal. Branca, McClain, and Katherine will all reportedly testify in the coming trial.
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The post Michael Jackson’s 92-Year-Old Mother Katherine Jackson To Testify In Trial Over Late Singer’s Estate, As She Disagrees With Selling Half His Music Catalog appeared first on theJasmineBRAND.
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