Michael Jackson dead!

[jrj512]

Poor Tito.

[Titus]

Wow! What happens to the debts now that he died are they going to go after Tito??

From my limited knowledge on the subject, it starts with everyone owed money filing claim to various assets. The Attorneys executing his will then look at what is owed, what assets are held, what the will states, and what the people in the will want to do. From that, the Attorneys submit a plan to the courts, everyone wanting money bitches about the plan and how it screws them, the Judge forces the attorneys to modify the plan, and eventually approves it. In the end, there is likely one of 3 outcomes:
1) Part or all of major assets like the catalog are sold, everyone is paid off, and the people in the will get whats left.
2) Everything will be sold, it won't be enough to pay everyone off, the people in the will get nothing, and people holding unsecured debt won't get all their money back.
3) Some assets will be sold but those in the will will finance the rest of the debt to keep the catalog and other assets together.

One thing is for sure, it will take years to sort out.

[Titus]

Also, count on someone in the Jackson Family (my money's on LaToya) challenging the paternity of his "too white to be black" kids and demanding DNA testing.

[sammm]

Poor Tito.

Was that his pet monkey?

[Miatamaniac92]

Was that his pet monkey?

He makes a good vodka.



Chris

[cwisenheimer]

One thing is for sure, the lawyers will suck the estate as dry as possible before anybody who deserves anything gets a dime.

Fixed it for you.

[trickyrix]

Was that his pet monkey?

You're thinking of Bubbles...

[HudsonHawk]

Think how bad the promoters of his London tour are getting shafted right now. That was 50 sold out shows they have to refund.

[Dudley Dawson]

I'd have gladly punted Michael Jackson in the sac for the way he screwed Paul McCartney out of the rights to his own songs and then licensed their use for a bunch of damn commercials. And ever since I was a kid I've thought MJ's music was about the worst kind of crap out there.

But I'm sorry to hear he's worm food now.

[cam76034]

Think how bad the promoters of his London tour are getting shafted right now. That was 50 sold out shows they have to refund.

I'm thinkin there won't be many requests for refunds, seeing as how the value of those tickets probably just increased tenfold or more. A nice little investment for those lucky ticketholders to say the least. Did you see on the news all the mindless fans buying up all his CD's? (like there won't ever be any more produced)

[Nails]

I'm thinkin there won't be many requests for refunds, seeing as how the value of those tickets probably just increased tenfold or more. A nice little investment for those lucky ticketholders to say the least. Did you see on the news all the mindless fans buying up all his CD's? (like there won't ever be any more produced)

If they had minds, they wouldn't be fans.

[creek]

We'll get a bunch of new albums, like we did with Tupoc.

[cam76034]

Once again, amazingly, I agree with black roadster and would add a shrewd bussiness man.

Known for huge shopping sprees for toys and antiques, Jackson was accused by an accountant during his 2005 trial on child molestation charges of spending $20 million to $30 million more than he was bringing in per year.

More like a screwed businessman.