Michael Jackson’s Estate Sues a Former Personal Manager
By BEN SISARIO
Paul Buck/European Pressphoto Agency
Tohme R. Tohme listened to Jermaine Jackson at a news conference announcing the death of Michael Jackson in 2009.
The estate of Michael Jackson has filed a lawsuit against one of Mr. Jackson’s former managers, accusing him of breach of fiduciary duty and seeking to recover some of the pop star’s personal property.
The suit, filed in Los Angeles Superior Court on Friday, accuses Tohme R. Tohme — Mr. Jackson’s personal manager from early 2008 until a few months before his death in June 2009 — of making bad business deals on his behalf and of paying himself large fees in the process.
For example, the suit says that in addition to the 15 percent of gross earnings that most artist managers take in compensation, Mr. Tohme arranged for a retainer of $35,000 a month, plus expenses. Mr. Tohme, who was born in Lebanon and has styled himself a doctor, was described by The Associated Press in a profile as “a financier with a murky past.”
In offering what it says is an example of breach of fiduciary duty, the lawsuit contends that Mr. Tohme did not fully disclose to Mr. Jackson the extent of his business connections with Colony Capital, the real estate investment company that took over his Neverland Ranch in 2008, when the singer was on the brink of insolvency. After introducing Mr. Jackson to Colony, the suit contends, Mr. Tohme claimed a “finder’s fee” of 10 percent of the $24 million refinanced loan on the house as well as a 10 percent cut of any future Neverland sale.
And in a glimpse into his last months, the suit says that Mr. Jackson fired Mr. Tohme “no later than April 14, 2009,” the day after an auction of thousands of Jackson’s personal items from Neverland went on view in Los Angeles; that auction, which had been arranged by Mr. Tohme, was shut down before any sales were made. The suit says that Mr. Tohme still possesses property belonging to the estate.
Mr. Tohme, who was close enough to Jackson’s family and inner circle that he spoke at a news conference at the U.C.L.A. Medical Center announcing the singer’s death, could not be reached for comment.
But the Jackson estate said it planned on hearing from him soon. In a statement on Friday, Howard Weitzman, a lawyer for the estate, said: “We expect Mr. Tohme to file a lawsuit against the estate. We believe the facts will show that Mr. Tohme’s claims are meritless and that Mr. Tohme engaged in wrongdoing with respect to Michael Jackson starting early in their relationship.”
http://mediadecoder.blogs.nytimes.c...cksons-estate-sues-a-former-personal-manager/
By BEN SISARIO
Paul Buck/European Pressphoto Agency
Tohme R. Tohme listened to Jermaine Jackson at a news conference announcing the death of Michael Jackson in 2009.
The estate of Michael Jackson has filed a lawsuit against one of Mr. Jackson’s former managers, accusing him of breach of fiduciary duty and seeking to recover some of the pop star’s personal property.
The suit, filed in Los Angeles Superior Court on Friday, accuses Tohme R. Tohme — Mr. Jackson’s personal manager from early 2008 until a few months before his death in June 2009 — of making bad business deals on his behalf and of paying himself large fees in the process.
For example, the suit says that in addition to the 15 percent of gross earnings that most artist managers take in compensation, Mr. Tohme arranged for a retainer of $35,000 a month, plus expenses. Mr. Tohme, who was born in Lebanon and has styled himself a doctor, was described by The Associated Press in a profile as “a financier with a murky past.”
In offering what it says is an example of breach of fiduciary duty, the lawsuit contends that Mr. Tohme did not fully disclose to Mr. Jackson the extent of his business connections with Colony Capital, the real estate investment company that took over his Neverland Ranch in 2008, when the singer was on the brink of insolvency. After introducing Mr. Jackson to Colony, the suit contends, Mr. Tohme claimed a “finder’s fee” of 10 percent of the $24 million refinanced loan on the house as well as a 10 percent cut of any future Neverland sale.
And in a glimpse into his last months, the suit says that Mr. Jackson fired Mr. Tohme “no later than April 14, 2009,” the day after an auction of thousands of Jackson’s personal items from Neverland went on view in Los Angeles; that auction, which had been arranged by Mr. Tohme, was shut down before any sales were made. The suit says that Mr. Tohme still possesses property belonging to the estate.
Mr. Tohme, who was close enough to Jackson’s family and inner circle that he spoke at a news conference at the U.C.L.A. Medical Center announcing the singer’s death, could not be reached for comment.
But the Jackson estate said it planned on hearing from him soon. In a statement on Friday, Howard Weitzman, a lawyer for the estate, said: “We expect Mr. Tohme to file a lawsuit against the estate. We believe the facts will show that Mr. Tohme’s claims are meritless and that Mr. Tohme engaged in wrongdoing with respect to Michael Jackson starting early in their relationship.”
http://mediadecoder.blogs.nytimes.c...cksons-estate-sues-a-former-personal-manager/
