Belfast Telegraph

Tuesday 29 July 2014

Michael Jackson massive debt nearly paid

Michael Jackson

Michael Jackson's estate has almost paid off his hundreds of millions of dollars of debt.

The King of Pop died in 2009 from acute Propofol intoxication.

TMZ reports that as of the end of May Michael's estate has earned $475 since his death.

Before he passed he was $500 million in arrears.

According to finance documents only one of Michael's debts, which involves his publishing catalogue, remains outstanding. It is expected to be paid by the end of the year.

Michael's mother Katherine has requested from the estate $34,700 a month to pay for accounting and legal fees as well as an additional $205,041 to cover lawyer and accountant fees from 2011. Attorney's fees in the past year were over $13.6 million.

There are still some lingering financial issues that remain unresolved.

Michael's siblings Tito and Jackie threw a dinner for a group of 25 friends in New York City's Italian restaurant Canaletto last month, acknowledging the third anniversary of the legend's death.

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