“The Property was teetering on the snapping point, with greater than $400 million in debt that encumbered Michael’s most important belongings and little or no liquidity or means to service that debt. By inventive pondering, arduous work and enterprise savvy—and, after all, Michael’s extraordinary inventive legacy—the Executors reworked the MJJ Enterprise right into a worthwhile enterprise,” the executors stated.
Michael’s household has not publicly commented on the music catalog sale.
As we first reported, Katherine not too long ago demanded the property pay her $500k to cowl her authorized charges preventing them in court docket.