By Bill Donahue, Billboard | Michael Jackson’s son Bigi (a/k/a Blanket) is asking a Los Angeles judge to stop his grandmother from using money from the iconic singer’s estate to fund her ongoing legal battles against the estate’s executors over their recent $600 million deal with Sony.

In court filings obtained by Billboard, Blanket argued Monday that the estate shouldn’t foot the bill for Katherine Jackson’s pending appeal, in which she’s challenging a ruling last year that gave co-executors John Branca and John McClain approval to proceed with an unnamed transaction.

While the disputed deal itself is not explicitly named in legal documents, it appears to be the Jackson estate’s estimated $600 million deal to sell part of the singer’s catalog to Sony, the terms of which were first reported by Billboard last month.

Monday’s objections highlight a recent rift between Katherine and Blanket. Both of them initially opposed the estate’s proposed transaction, but after the judge ruled last year that the deal could move forward, Blanket and Jackson’s other children accepted the decision. Katherine opted instead to keep fighting, filing an appeal that remains pending.
> > > > > > > > > >
Read more of this story here:

[Note: Katherine Jackson has since filed an objection.] [This stems from a deal that, more than likely, means “you get the money NOW instead of waiting for years for the royalties to come rolling in.” However, it also means that the risk-taker is hoping that, over the years, they will take in a LOT more in royalties than $600 million! The ‘seller’ gets $600m and that’s it.]

Leave a Reply

Close Search Window