The executors’ attorneys mentioned issues have been made extra difficult as Jackson had “modified enterprise managers, legal professionals, and private managers a number of instances within the years instantly previous to his loss of life,” leaving them compelled to trace down paperwork that have been “scattered across the nation.”
“On the time of Michael Jackson’s loss of life, Michael Jackson’s most important property have been topic to greater than $500 million of debt and collectors’ claims, with a number of the debt accruing curiosity at extraordinarily excessive rates of interest, and a few debt in default,” the docs acknowledged.
“The Executors, with the help of their authorized group, labored to carry all debt present, and negotiated and restructured the debt at rates of interest much more favorable to the Property in order that the Property was in a position to and has paid in full the entire debt that so closely burdened Michael Jackson throughout his life.”