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Katherine Jackson Removed As Administrator Of MJ's Estate

KingOfPop1

KingOfPop1

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TMZ is in the courtroom and it looks like Branca & McClain have won the control over the estate. Here are the updates in real time:

1:02 PM ET -- The judge just said that decisions like marshaling the assets, attorney's fees, and settling claims and actions all require court approval.

1:00 PM ET -- The judge just made it clear -- Katherine is NOT a co-administrator and she is not required to be involved in every decision. But, he pointed out, her attorney does have the ability to object.

12:54 PM ET -- The executors are also interested in operating his businesses (employees, investments, etc.) but any new business ventures would be subject to court approval.

12:49 PM ET -- The lawyer for the executors is balking about giving Katherine approval power. The judge has said he wants the executors to keep Katherine in the loop about decisions being brought before the court.

12:47 PM ET -- Katherine's lawyer is now asking the judge if she can have approval rights before executors make financial decisions with respect to the estate.

12:41 PM ET -- The lawyer for Branca and McClain is talking about the possibility of "extreme loss" to the estate -- as a result of "unlicensed activities." One of the lawyers is talking about the complicated issues involving money with AEG, the tour, merchandise, ticket refunds, pay-per-view, etc.

12:36 PM ET -- And we're back on the record ...

12:28 PM ET -- The judge has ordered a 10-minute recess.

12:19 PM ET -- Bond has been set at $1 million. That is to protect the estate in the event the administrators waste or misspend assets.

12:14 PM ET -- Branca and McClain have just been appointed the special administrators of Michael Jackson's estate. The judge feels Jackson's 2002 will should be controlling.

12:09 PM ET -- The judge just said he may appoint an independent lawyer for the kids.

12:06 PM ET -- The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

12:00 PM ET -- It appears there is some contentiousness -- the judge said if the two sides continue to squabble, he'll appoint an independent special administrator to temporarily oversee the estate.
 
I wish that she could get the approval power. Decisions would affect her son's legacy so she should have a voice until the children are of age.

I thought that McClain was supposed to be tight with the family. Do they object to him also or just Branca? I wonder if it makes them feel better that he would be there also?

Can they alone decide which assets can be sold or would there be guidelines to that?
 
oh geez, this is awful. I feel so bad for his family to have to worry about all of this and in the midst of grieving.
 
MichaelYoureAStud said:
It means Michael's will is being taken at face value unless Branca and McClain mess up.
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So why is there a fight going on? If he wanted them in charge, then they should be. I'm not understanding this, sorry.
Is his mom trying to go against what he said in his will?
 
They did produce a recent letter stating that Michael wanted Branca in charge.
 
I think this is update is most curious:

12:41 PM ET -- The lawyer for Branca and McClain is talking about the possibility of "extreme loss" to the estate -- as a result of "unlicensed activities." One of the lawyers is talking about the complicated issues involving money with AEG, the tour, merchandise, ticket refunds, pay-per-view, etc.
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classic said:
They did produce a recent letter stating that Michael wanted Branca in charge.
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Very true

12:06 PM ET -- The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.
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Don't know what the intent of these lawyers may be...but I think someone from the family needs to be in the know and directly involved in his estate...Not just the suits.
 
Whatever is best for Michael's estate I guess. If Michael wanted them to be in charge, fair enough... He did that 8 days before though, wow!
 
KJ777 said:
Don't know what the intent of these lawyers may be...but I think someone from the family needs to be in the know and directly involved in his estate...Not just the suits.
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Yup.

Just praying Branca does right by MJ

and praying for Ms. Katherine to keep the kids
 
The familys is not opposing the will. They are wondering about Branca and McCLains part in this.

Acoording to Katherins lawyer, she is concerned about Branca's relationship with the singer before he died. Branca had rejoined Jackson just weeks before his death.

The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

I just hope they wont fuck it up.
 
The courts are going with Michael's wishes as Michael appointed Branca and McClain and then reiterated Branca's involvement just 8 days before he died. The family must accept Michael's will.
 
Trish said:
I think this is update is most curious:

The lawyer for Branca and McClain is talking about the possibility of "extreme loss" to the estate -- as a result of "unlicensed activities." One of the lawyers is talking about the complicated issues involving money with AEG, the tour, merchandise, ticket refunds, pay-per-view, etc.
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Most likely regarding the rehersal videos, AEG has made it clear that they want to relase the footage in some sort of DVD collection, I'm guessing this was never contemplated and therefore the lawyers need to work out some sort of agreement for that profit.
 
sunnyday81 said:
I have no idea what all this means...:scratch:
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I do. Simply put, it means that the lawyers control all of MJ's shyt. I read about this elsewhere and now I have some questions. Katherine's attorney stated that she was concerned about the relationship between John Bianca and MJ in that Bianca just recently came back into MJ's life and indeed, Bianca's lawyer had a document signed by MJ giving Bianca administrative powers....

8 days before he died.

I'm sry folks. I was trying not to go there before the man can be laid to peace, but this shyt stinks to high heaven.
 
The court case is over however Branca and McClain are about to give a press conference. Live stream on TMZ.
 
The two got him killed to inherit him - I said it!
 
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Well, Branca did say earlier when the news of the will was coming out that Michael had talked to him and his main concern was securing his children's future, and that's what Branca intended to do. Probably had this letter in mind when he was talking. Of course, the best place for the children is where Michael wanted them, with Katherine. But mother's love all their children, and there is always the chance that other family members might talk her into doing something with the estate/money that might not be wise or might not be totally for the benefit of the children. No disrespect meant, just sayin. With Branca and McCain, they're only concern would be for the kids. Putting a bond in place does help that - plus I do like the consideration of a lawyer to represent the children - hope that might happen.
 
Trish said:
I think this is update is most curious:
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Trish, since I'm not a lawyer I'm not sure if this goes under this aspect, but the other day one commentator did state that many people are making money now with T-shirts, etc. with his image and that the executors probably want to get in as soon as possible to put a stop to this. So, it may be to take care of things like this and to sort through whatever must be done in terms of the AEG contract; I guess there must have been a clause about what conditions were for "breaking the contract" (though everyone knows it wasn't done on purpose), how footage can be used and split between AEG and Michael's estate, what happens to the advance payment he received from AEG, etc.

I just want Michael's estate to maintain his control of Sony/ATV. He held on to it with so much conviction. That should always be protected.
 
mello1 said:
I do. Simply put, it means that the lawyers control all of MJ's shyt. I read about this elsewhere and now I have some questions. Katherine's attorney stated that she was concerned about the relationship between John Bianca and MJ in that Bianca just recently came back into MJ's life and indeed, Bianca's lawyer had a document signed by MJ giving Bianca administrative powers....

9 days before he died.

I'm sry folks. I was trying not to go there before the man can be laid to peace, but this shyt stinks to high heaven.
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:no:

Ughhh.

Now you got me thinking.

Normally I wouldn't find that highly suspicious because when an artist takes on a major undertaking like a world tour, they usually update their will and codicils. But in the world of MJ, lord knows ....
 
There apparently was some reference to another will in court today. No other details right now.

Update: Apparently it pre-dates the 2002 will.
 
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i dont like where this is going..... I feel like something happened. Like he knew.
 
Lacey said:
Well, Branca did say earlier when the news of the will was coming out that Michael had talked to him and his main concern was securing his children's future, and that's what Branca intended to do. Probably had this letter in mind when he was talking. Of course, the best place for the children is where Michael wanted them, with Katherine. But mother's love all their children, and there is always the chance that other family members might talk her into doing something with the estate/money that might not be wise or might not be totally for the benefit of the children. No disrespect meant, just sayin. With Branca and McCain, they're only concern would be for the kids. Putting a bond in place does help that - plus I do like the consideration of a lawyer to represent the children - hope that might happen.
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Sry, but Branca's history with MJ would suggest otherwise. That's all I'm sayin.

For now.
 
I just cant believe this is happening...I cant believe there is a "funeral and memorial" forum on this board...its just insane
 
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