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Jackson estate administrators seek payment

GinnyJackson

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By ANTHONY McCARTNEY, AP Entertainment Writer Anthony Mccartney, Ap Entertainment Writer – 25 mins ago
LOS ANGELES – The administrators of Michael Jackson's estate and a cadre of attorneys are seeking millions for managing the King of Pop's affairs after death, court documents filed Tuesday show.
It's unclear how much exactly will be paid out.
The administrators of Jackson's estate, attorney John Branca and music executive John McClain, are seeking five percent of money the estate has earned so far.
The administrators and attorneys have not been paid since Jackson's death on June 25, the filings state.
The estate may have earned $100 million or more with the sale of rights to the concert film "This Is It," new music releases and merchandising agreements.
But Jackson's estate also faces significant debt and a lawsuit cites at least 10 lawsuits that are still pending. They include suits over the rights to "Thriller," Jackson's iconic song and music video directed by John Landis, and lawsuits filed by former associates.
The filings state that a detailed accounting of the estate's earnings is not ready, but attorneys have filed some financial records for the judge to review.
Many experts believe that Jackson's estate earnings could eclipse those of another famous, and profitable, music icon — Elvis Presley.
"Unlike the typical estate, the operation of Michael Jackson's estate is more akin to the operation of a multimillion dollar business enterprise," attorney Jeryll S. Cohen wrote in a filing.
She wrote that many of the attorneys working the case have spent up to 14 hours a day on the case, and that not approving the fees soon will create a financial hardship.
Branca is asking the five percent be paid to his firm. The filing states he is not asking for a personal fee for administration of the estate.
Payments would also go to a variety of firms, including one representing the interests of Jackson's children.
Los Angeles Superior Court Judge Mitchell Beckloff has scheduled a hearing for Jan. 4 to decide how much can be paid out.






http://news.yahoo.com/s/ap/20091216/ap_en_ot/us_jackson_estate


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all hands out.

 
The administrators and attorneys have not been paid since Jackson's death on June 25, the filings state.
The estate may have earned $100 million or more with the sale of rights to the concert film "This Is It," new music releases and merchandising agreements.
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So far, I think the executors of Michael Jackson's estate have done an excellent job,and they have earned their salary.:clapping:

 
Hoping a legal expert MJJC-er can opine on this topic, BTW.

But my personal opinion is, it's a fair deal.

Branca & McClain have worked close to six months NON-STOP.

And they are asking for 70% (meaning a 30% DISCOUNT) of what the law normally states.

So hey, go for it - Branca & McClain have done a helluva job.

Keep the MJ Legacy ALIVE!!!
 
Yes i gather it must be but i was talking Landis and all the other hands that are forever fishing in Michael's pockets. When will it end? Will he ever be left alone?
 
Sirena said:
Hoping a legal expert MJJC-er can opine on this topic, BTW.

But my personal opinion is, it's a fair deal.

Branca & McClain have worked close to six months NON-STOP.

And they are asking for 70% (meaning a 30% DISCOUNT) of what the law normally states.

So hey, go for it - Branca & McClain have done a helluva job.

Keep the MJ Legacy ALIVE!!!
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exactly...they are doing a wonderful job and they should be compensated. I would imagine this has taken up ALOT of their time and they more than likely had to drop whatever they were doing to head the estate
 
I am very surprised that this was not already addressed in the will/trust about compensation to the executors and people who are working for the estate. Maybe this 5% is what is written in the will/trust and the executors just need court authorization to release the funds.

They should get paid if they have been working without compensation for the last 6 months. But get paid a fair amount.
 
Michael Jackson estate administrators seek payment
By ANTHONY McCARTNEY (AP) – 1 hour ago
LOS ANGELES — The administrators of Michael Jackson's estate and a cadre of attorneys are seeking millions for managing the King of Pop's affairs after death, court documents filed Tuesday show.
It's unclear how much exactly will be paid out.
The administrators of Jackson's estate, attorney John Branca and music executive John McClain, are seeking five percent of money the estate has earned so far.
The administrators and attorneys have not been paid since Jackson's death on June 25, the filings state.
The estate may have earned $100 million or more with the sale of rights to the concert film "This Is It," new music releases and merchandising agreements.
But Jackson's estate also faces significant debt and a lawsuit cites at least 10 lawsuits that are still pending. They include suits over the rights to "Thriller," Jackson's iconic song and music video directed by John Landis, and lawsuits filed by former associates.
The filings state that a detailed accounting of the estate's earnings is not ready, but attorneys have filed some financial records for the judge to review.
Many experts believe that Jackson's estate earnings could eclipse those of another famous, and profitable, music icon — Elvis Presley.
"Unlike the typical estate, the operation of Michael Jackson's estate is more akin to the operation of a multimillion dollar business enterprise," attorney Jeryll S. Cohen wrote in a filing.
She wrote that many of the attorneys working the case have spent up to 14 hours a day on the case, and that not approving the fees soon will create a financial hardship.
Branca is asking the five percent be paid to his firm. The filing states he is not asking for a personal fee for administration of the estate.
Payments would also go to a variety of firms, including one representing the interests of Jackson's children.
Los Angeles Superior Court Judge Mitchell Beckloff has scheduled a hearing for Jan. 4 to decide how much can be paid out.
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http://www.google.com/hostednews/ap/article/ALeqM5h9a7kycTsBsS5YVilTVuapWmQ4JgD9CK4V002

The AP says John Branca does not ask for his administrator's fee. That is silly..he should get paid for his services. That is the best motivation to make more money for the estate.

The Jacksons have racked up quite a bit of lawyers' fees for the estate. The lawyer are asking for a lot of money...but understandable with all the challenge they had to put up with from Randy & co.


I am very surprised that this was not already addressed in the will/trust about compensation to the executors and people who are working for the estate. Maybe this 5% is what is written in the will/trust and the executors just need court authorization to release the funds.
Click to expand...

Obviously, 5% is what the will states they get pay. But they cannot just take the money while it is being probated. They need court authorization.
 
Memefan said:
The AP says John Branca does not ask for his administrator's fee. That is silly..he should get paid for his services.
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I agree. I am sure he did not want to be accused of acting in his own self interest, so he did not take a salary. But he has proven himself with capable management and leadership so far. He should definitely be compensated. Like the article said, he is running a multi million dollar company.
 
according to TMZ Weizman company is asking for almost half a million as fees , they were hired to solve the matter with the family, there are two other law firms asking for fees also , it is fair to assume katherine's legal fees are up to almost half a million now .

so that one million dollar wasted by Randy and joe.
 
A little simple legal clarification :

Why aren't / weren't they paid?

Will is being probated. That means that they have to examine all the claims, finish all the lawsuits, pay all the debt etc before the money becomes free and they can do whatever they want with it.

It is the same reason that MJ's mom and kids are on a monthly allowance and for example not getting 40% of the revenues.

They need to get judge's approval to take some money out of the estate before they settle all claims.

IMO this is all fair. They have been working non stop , probably they employ several legal firms for the lawsuits etc and they need to get paid. It can take several years until the will is completeley probated.

Looks like Branca is fed up with all the negativity/ accusations said about him ( in some cases by the Jackson's) so he's like "I want no money". So sad. He deserves to be paid for his work.
 
they should be paid,the judge will decide how much,this is not an issue...the press is making a issue out of this...stupid...
 
Its almost been six months now so asking for their fees is completely justified. The estate is huge and must be extremely time consuming for them. I personally think they have done an excellent job with the estate so far. Most of the outstanding debts have now been paid, which was the perogative. No one thought that it would take such a short period of time to do so. Probate takes a long time. Even with my grandfather's will it took six months to clear, just imagine how long Michael's will take. As soon as it clears probate then the estate can do what they want with the money and choose the charities that the 20% goes too.
 
ivy said:
IMO this is all fair. They have been working non stop , probably they employ several legal firms for the lawsuits etc and they need to get paid. It can take several years until the will is completeley probated.

Looks like Branca is fed up with all the negativity/ accusations said about him ( in some cases by the Jackson's) so he's like "I want no money". So sad. He deserves to be paid for his work.
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I agree. And I am relieved to see we all agree on this, since the media, again, want to turn this into an "issue". They are really working hard, debts are being paid, and they seem to be really very concerned. They are working, they must be paid.

Thank you very much for the explanations abou the legal terms/issues :)
 
GinnyJackson said:
Yes i gather it must be but i was talking Landis and all the other hands that are forever fishing in Michael's pockets. When will it end? Will he ever be left alone?
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I hate to point this out but Michael has been known not to pay his business associates and has had many cancellations of things and people should be paid for their work.

When Michael had a problem with Sony he sure made it known.

We all loved Michael, but that doesn't give him the right not to pay for services rendered. I am sure there are some who are just out to get what they can get and are dishonest, but there have been too many stories of Michael not paying for things. I am sure it was a cash flow problem and he juggled money around a lot and this is the end result of that.
 
I also think that's a fair claim. :yes:

Beachlover said:
I hate to point this out but Michael has been known not to pay his business associates and has had many cancellations of things and people should be paid for their work
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Well, I don't think Michael personally paid them or signed any checks, he had people who did everything for him.
 
Snow White 1937 said:
I also think that's a fair claim. :yes:


Well, I don't think Michael personally paid them or signed any checks, he had people who did everything for him.
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Thats just throwing words around. He told them what to do and for those who say he no longer was involved in the business end should not be surprised when they find people have to sue now for what they are entitled to.
 
sloride said:
Its almost been six months now so asking for their fees is completely justified. The estate is huge and must be extremely time consuming for them. I personally think they have done an excellent job with the estate so far. Most of the outstanding debts have now been paid, which was the perogative. No one thought that it would take such a short period of time to do so. Probate takes a long time. Even with my grandfather's will it took six months to clear, just imagine how long Michael's will take. As soon as it clears probate then the estate can do what they want with the money and choose the charities that the 20% goes too.
Click to expand...

Agreed. :)
 
Beachlover said:
I hate to point this out but Michael has been known not to pay his business associates and has had many cancellations of things and people should be paid for their work.

When Michael had a problem with Sony he sure made it known.

We all loved Michael, but that doesn't give him the right not to pay for services rendered. I am sure there are some who are just out to get what they can get and are dishonest, but there have been too many stories of Michael not paying for things. I am sure it was a cash flow problem and he juggled money around a lot and this is the end result of that.
Click to expand...

how do you know those the truth? The media just reported one side story(only negativity). we all know how generous he was. "He donated proceeds from the 1988 song Man in the Mirror to Camp Ronald McDonald for Good Times, a camp for children who suffer from cancer. He donated all the money he received from his Pepsi endorsements — $1.5 million — to the Michael Jackson Burn Center for Children. Before a concert at Wembley Stadium in 1988, Michael handing over checks totaling more than $400,000 for the Prince’s Trust and a children’s hospital. The Guinness Book of World Records cited Jackson for holding the world record for the Most Charities Supported by a Pop Star. It’s unclear how much Jackson had donated over the years, but some estimates put the number at more than $500 million." (from news: Michael jackson is the king of giving, too）
He opened his neverland to his friends, some fans and all children of the world. He can give his friends such as Teddy and Mac a $25,0000 diamond watch as the gifts; he gave his employee the huge box of DVD(hundreds of Movies) just because he was late on that day.........
From what Michael had given to the world, and you believe he hesitated to pay his own bills or his own employee? He was generous but not stupid, he paid everything he supposed to pay in the reasonable price. yes, Michael jackson had to deal with hundreds of lawsuit, but if you went thought the cases, you would find out most of them claimed Michael Jackson didn't pay them enough and asked for million dollars compensation, what kind of services they provided worth that much money. Michael fought his entire life against greed.

The Estate administrators should be paid, they did the excellent jobs so far. They deserved every penny they received.
 
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pretty much a non story. media especially the likes of yahoo who 9 out of ten times talk crap about mj are desperate for some mj news so write a story like this that once again implies the estate (mjs fault of course) isnt paying ppl.the implication is obvious

I hate to point this out but Michael has been known not to pay his business associates and has had many cancellations of things and people should be paid for their work.
Click to expand...
im sorry but thats rubbish and typcial brainwashing by the media. it was shown that those who mj paid to pay others ie accountants were not doing their kobs properly.mj sued them. mj never had such issues in the past inregards to bills not being paid until a cetain brother got involed and brought in ppl. also if u followed the lawsuits that were brought.in alot of cases the amounts those sueing were asking for was way above what they were entitlitled to. ppl took the piss when it came to mj. bills suddenly becoming double what they should have been cause it was mj the story of prince at the dentist is a good example. so dam right i expect mj to refuse to pay and fight ppl who think they can charge more than they should because its mj.cancellation of things. what .what more can i give and the and the katrina single.both which were totally out of his control.the only other issue i can think of was the 1999 new years eve concerts.not bad for 40 years in the business, but of course ppl get brainwashed by the media that mj was someone who always pulled out of things. id like to see someone list all the concerts mj booked in his lifetime and how many he did to how many that were cancelled due to illness etc.some will get a shock
 
elusive moonwalker said:
pretty much a non story. media especially the likes of yahoo who 9 out of ten times talk crap about mj are desperate for some mj news so write a story like this that once again implies the estate (mjs fault of course) isnt paying ppl.the implication is obvious


im sorry but thats rubbish and typcial brainwashing by the media. it was shown that those who mj paid to pay others ie accountants were not doing their kobs properly.mj sued them. mj never had such issues in the past inregards to bills not being paid until a cetain brother got involed and brought in ppl. also if u followed the lawsuits that were brought.in alot of cases the amounts those sueing were asking for was way above what they were entitlitled to. ppl took the piss when it came to mj. bills suddenly becoming double what they should have been cause it was mj the story of prince at the dentist is a good example. so dam right i expect mj to refuse to pay and fight ppl who think they can charge more than they should because its mj.cancellation of things. what .what more can i give and the and the katrina single.both which were totally out of his control.the only other issue i can think of was the 1999 new years eve concerts.not bad for 40 years in the business, but of course ppl get brainwashed by the media that mj was someone who always pulled out of things. id like to see someone list all the concerts mj booked in his lifetime and how many he did to how many that were cancelled due to illness etc.some will get a shock
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Well said. :clapping:
 
This is since his death. This is a matter of course. They have to file documents. It has to be approved by judge. Just procedure.
 
I don't see why the media is making such a big deal of this. The whole estate thing only started after Michael died. The estate and the people seeking payment in this case are one and the same. This is a regular procedure. Jeez Louise.
 
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Well, well, well...............

It was Michael Jackson that earned this not crooks Branca and his henchmen.

Let the robbery begin. This is what they are working and waiting for. These crooks will be leeching off of Michael Jackson for the rest of there lives. I see a good forgery can earn big money.

I knew this would happen.
Wake up they have already been taking millions under the table.
 
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