Open General discussion - Katherine Jackson vs AEG

[crillon]

The jewelry he bought, I bet most of that went to Liz Taylor. Lol

HaHa. I think you're probably right! Although LMP got an amazing engagement ring--10 carats, right?

 

[twinklEE]

dont forget Brooke Shield's 11 carat 'friendship ring' haha

I think Michael loved jewelry not just as gifts but for himself as well, he did wear nice diamond brooches himself.
God bless his little heart, he deserved to enjoy his hard earned money

 

[twinklEE]

It's painful to see that Michael's privacy doesn't exist anymore when he was alive I always wanted to know everything about him, his life, his kids, his health, his love life. Ever since he died it just got way out of hand, it pains me to see that Michael, -who always felt very strongly about his privacy- is denied his, just for the quest for money. Everything is being blown out of proportion, taken out of context and exaggerated.
All we are hearing are #liesfairytalesandfallacies with little to no truth from all the people involved.

Rest in Peace Michael

 

[Petrarose]

^^I thought Michael's jewelry was costume and not real. Those glittering things on his clothes were not real either. I think most of the jewelry Akerman is talking about must be female stuff as gifts. Micheal is not a jewelry man.

I knew sooner or later one of them would say Michael would not be able to support the plaintiffs, because they had to show as little damages as possible. Ackerman claims:

-Ackerman: I think it's important to share with jury that there was some doubt of his ability to continue to provide support.

The thing is if Michael saw he could not support his children, wouldn't he go back to touring as he was doing with TII?


Ackerman also talked about this:
-Ackerman said MJ had multiple corporations. He said most of his expenses were from one of his entities and not by himself as a person.

Well that is good to know at least. I wonder if Bain and the other managers showed a loss on Michael books to help his taxes. I know accounts try to make your income as low as legally possible so Uncle Sam does not take too much. I am assuming when Ackerman is talking about the books he means the accounting books that the managers made.

I have a question. Are these experts showing a picture of What would happen in the future if Michael did not tour, have a concert, or engage in any kind of work? It just dawned on me that they are looking at the past books and past spending and money he earned in the past to figure what would happen in the future.

 

[ivy]

I have a question. Are these experts showing a picture of What would happen in the future if Michael did not tour, have a concert, or engage in any kind of work? It just dawned on me that they are looking at the past books and past spending and money he earned in the past to figure what would happen in the future.

they are doing what is called a trend analysis. you take past data and you predict the future. For example you can looks to past 10 years of expenses / spending habits of a person and you can predict what the future spending would be. Similarly for example if Michael's past tours averaged 4.5 Million attending, you can assume that a similar amount of people would attend to the future tours. No one can predict the future perfectly but using past years information and assuming similar trends in the future is a starting point to determine future numbers.

 

[8701girl]

Randy will hopefully be punished for this bs he's pulled.

HA! you reckon anyone in mjs family will "punish him" i bet you they wont

They dont care bout mj at all

 

[Ashtanga]

It's painful to see that Michael's privacy doesn't exist anymore

Well, for me Michael never knew what it was to have privacy. It never existed in his life. Everyone wanted to know all about and dissect every event that happened in his life. It's just sad to think about it and everything could have been different. But it was not... The world, the press and some people were very harsh with him. *big sigh*

 

[Petrarose]

they are doing what is called a trend analysis. you take past data and you predict the future. For example you can looks to past 10 years of expenses / spending habits of a person and you can predict what the future spending would be. Similarly for example if Michael's past tours averaged 4.5 Million attending, you can assume that a similar amount of people would attend to the future tours. No one can predict the future perfectly but using past years information and assuming similar trends in the future is a starting point to determine future numbers.

OK, so if there will be damages to be paid, who will put the 2 pieces together, i.e., what he would have made in the future if he engaged in touring, music, production & the result of this trend analysis? Is the jury supposed to look at both aspects and figure out an amount? I guess Ackerman is trying to say that he will continue with expense greater than what he takes in, will not be able to keep up taking care of plaintiffs, so the amount plaintiffs will get if he did not die is very small. However, he was engaged in going on a residency and possible touring, so how realistic is it to ignore that?

Well let's see how Panish handles this.

 

[ivy]

^^

yes it's the duty of the jury.

on one hand you have Jacksons expert saying Michael would have made more than $1.5 Billion and give it all - or 40% - to his kids and mother. on the other hand they are given much less to zero amounts of earnings, some debts and lower amounts given to katherine and the kids. It's the jury's duty to look it all and determine damages - if any and of course if they determine AEG is liable.

 

[Petrarose]

^^Ok, so I guess the jury will find some middle ground for something like this.

 

[Tygger]

I will be very interested in reading the cross of this second highly paid witness but, the tweets have not been published.

Ackerman forecast Michael’s spending however, I did not hear a forecast of how much income he would generate to offset spending. Ackerman predicts a gloomy financial forecast for Michael. Michael would never recover from debt it seems as per Ackerman regardless of the 50 shows or pending world tour. No gifting to charity in Michael’s future either.

His forecast is strange and highly suspicious. He purposefully chooses the Invincible period when Michael was not supported, as per Michael, by Sony and did not tour. He also depends on Gongaware's testimony regarding the success of the History tour. Where did monies come from for Michael to donate to charities at that time?

I refuse to believe the popularity resurgence Michael received from the O2 residency would not lead to financial gain and other financially successful ventures for Michael and in turn AEG and other entities partnering with Michael.

 

[passy001]

It's painful to see that Michael's privacy doesn't exist anymore when he was alive I always wanted to know everything about him, his life, his kids, his health, his love life. Ever since he died it just got way out of hand, it pains me to see that Michael, -who always felt very strongly about his privacy- is denied his, just for the quest for money. Everything is being blown out of proportion, taken out of context and exaggerated.
All we are hearing are #liesfairytalesandfallacies with little to no truth from all the people involved.

Rest in Peace Michael

see that bold part makes you part of the problem. you wanted to know every aspects of his life yet you're complaining about his lack of privacy when those aspects of his life are fed to
you.

Please note that I don't "wanna be starting something." but just saying.

 

[crillon]

^^

yes it's the duty of the jury.

on one hand you have Jacksons expert saying Michael would have made more than $1.5 Billion and give it all - or 40% - to his kids and mother. on the other hand they are given much less to zero amounts of earnings, some debts and lower amounts given to katherine and the kids. It's the jury's duty to look it all and determine damages - if any and of course if they determine AEG is liable.

How do they figure this out without considering variables like John Branca? Because if Michael's money was managed by people like Tohme or Leonard Rowe the bottom line would be drastically reduced.

I haven't been following how this trend analysis is done, but surely they are looking at the enormous debt Michael had at the time of his death, right? And, do they also consider the lawsuits that were filed--like Raymone Bain & others--and likely more to come had he lived, if history is prologue.

 

[jamba]

I will be very interested in reading the cross of this second highly paid witness but, the tweets have not been published.

Ackerman forecast Michael’s spending however, I did not hear a forecast of how much income he would generate to offset spending. Ackerman predicts a gloomy financial forecast for Michael. Michael would never recover from debt it seems as per Ackerman regardless of the 50 shows or pending world tour. No gifting to charity in Michael’s future either.

His forecast is strange and highly suspicious. He purposefully chooses the Invincible period when Michael was not supported, as per Michael, by Sony and did not tour. He also depends on Gongaware's testimony regarding the success of the History tour. Where did monies come from for Michael to donate to charities at that time?

I refuse to believe the popularity resurgence Michael received from the O2 residency would not lead to financial gain and other financially successful ventures for Michael and in turn AEG and other entities partnering with Michael.

What is strange and highly suspicious is the refusal to see value in Ackerman's expert testimony, which IMO validates a lot of what we knew about MJ's finances, which have been repeated in various sources, such a s Forbes.

From what I read of Ackerman's testimony, he makes a lot of sense. First, he reviewed (together with staff of 10) 200,000 documents. It is well-known that MJ's finances involved highly complex, multiple corporations, entities, and enormous debts. I was shocked at the 17% interest MJ was charged. It makes perfect sense to me given the 400-500 M in debt and the huge interest rates that MJ needed 30M per year just for the interest. That means that the principal--the 400-500M--is UNTOUCHED. In that scenario, you are running in place on a treadmill--having to come up with 30M a year on interest alone, so you never get the principal paid off. In this situation, most people would consider bankruptcy as inevitable, and it is interesting that MJ's primary lenders formed the trust that would exclude others from taking his main assets in a bankruptcy. That's how worried they were that he was headed for bankruptcy in 06.

I was also very interested in the finances of Havyenhurst, with a substantial staff and huge expenditures.

I wonder if KJ still thinks MJ was not in debt???

 

[jamba]

I think Ackerman's testimony was enlightening as far as the specificity of so much--the detailed expenses at MJ's properties, how Hayvenhurst sure costs him a bundle, and what was new to me, among other eye-openers, was how high the interest rates for his loans were and how the lenders sought protection from MJ going into bankruptcy by forming a trust to keep other creditors from taking the assets they had extended loans on. Also it is interesting to see that his income problems got way worse during the 2002-05 second allegations and that his debt went up a whopping 170M.

I really found this valuable and it's so interesting to me that Panish is having a heart attack b/c he does NOT want the jury to hear this. For example, going into all these details about the debt and how MJ's expenses were greater than his income makes KJ's assertion that he wasn't in debt absurd, esp. given how much her operation at Hayvenhurst and her upkeep (30K for food just for her?? over 200k for the staff? 34K in property taxes, etc, etc). Also it is a big contrast to Erk who said MJ's expenses were 7M/yr and Ackerman is saying more like 15M/yr.

No wonder Panish is having a cow and trying to block everything, including his mind-boggling argument that Ackerman did not even need to testify! ye, gods. How come AEG can't call their own financial expert to testify? This is insane that plaintiffs expert has "said it all," so no need for a defense. OMG! Hope judge doesn't fall for it.

 

[jamba]

I've said from day one that MJ needed a good woman/wife in his life, someone who would take care of him. There is no way in the world a doctor would be putting my husband to sleep with a iv and bottles of anesthesia. MJ had no one looking out for him to weed away the snakes and leeches. Just listening to Murray he sounds like a nutcase, medical license or not. Did MJ's staff even do a background check on Murray to find out his medical skills and if he could do what he was hired to do? It's just a shame that MJ had no one looking out for him.

I agree that 'The Little Boy that Santa Forgot" is a nutcase--the fact that he sang this song to Anderson Cooper revealed it to the world. The Jackson family is also getting revealed to the world in the trial and it is not a pretty sight.

I agree MJ needed a good woman--Karen Moriarty says he had 2 women who came to visit him in LV and when one of them came to see him they were like teenagers in the back of the limo, according to the bodyguards, and he went to hotels with them, so at least he had some comfort anf affection--but when he got to LA, they seem to have disappeared. Petra, you would have watched over him so well.

 

[Butterfly26]

It's painful to see that Michael's privacy doesn't exist anymore when he was alive I always wanted to know everything about him, his life, his kids, his health, his love life. Ever since he died it just got way out of hand, it pains me to see that Michael, -who always felt very strongly about his privacy- is denied his, just for the quest for money. Everything is being blown out of proportion, taken out of context and exaggerated.
All we are hearing are #liesfairytalesandfallacies with little to no truth from all the people involved.

Rest in Peace Michael

It's actually sickening and most fan don't realize just how invasive and bad it's become. No one would want that for themselves or their own family members. MJ is being ridiculed everywhere on the internet on lies, half truths, biased opinions and exaggerations from witnesses in court and the media. I can't but wonder how much damage this trial has done to Michael and his kids. He worked so hard for his art and to maintain privacy for himself and his children. Unfortunately, we will have to continue to sit and hear this destruction continue.

 

[twinklEE]

see that bold part makes you part of the problem. you wanted to know every aspects of his life yet you're complaining about his lack of privacy when those aspects of his life are fed to
you.

Please note that I don't "wanna be starting something." but just saying.

I wasn't stalking him or going around asking questions, neither was I buying/reading tabloids/supporting the media and their treatment toward him. I gained little tidbits here and there by visiting the OMG Michael/MJGoldpants threads. I never wanted anyone to invade his privacy I was satisfied by the halftruths people were positing on MJ Goldpants threads. I highly doubt that made me ''part of the problem''.
I never wanted him to be stripped of his privacy with his family members selling him out to the press, I never wanted his medical history to be dragged through the media. Keep in mind that I was very young when Michael was alive 15/16/17/18 years old. My opinion has obviously changed since his death.

 

[smoothlugar]

I love Michael and there are a lot of things about his life that I am interested in. But there are also a lot of things that have nothing to do with me (or anyone else) and should not be broadcast for the whole world to dissect, criticise and condemn. I just hate that.

On a final note, I know we will keep coming back to the 'drug addict' thing and my personal view is that we cannot pretend that the connotation of words is not important.
So I really get why some fans react so defensively to the drug addict label. I think we all agree that Michael had dependency issues but was not a drug addict, in the popular and general sense of the word. Well, I hope we all agree on that!

I agree!!!

I know these distinctions are complex and not even all doctors would agree, on the one hand medication was needed for medical reasons (same as insuline for sby with diabetes), on the other that medicine was addictive on its own and wherever possible doctor should choose a safer medicine.

About the alleged lack of medical records re. demerol in 09’, we know that Klein administered “significant” doses of demerol (as some expert in the CM trial put it), but did not prescribe it, since Klein was investigated by DEA and there was no prescription of demerol for MJ or any of the alias names used for other inocuous medicines that were intended for MJ. This shows for me that the main reason for those alias was not hiding something dangerous or illegal, but simply avoiding undue publicity on tabloids of something which should be IMO illegal, I mean to publish info from pharmacies emploees.

So no prescriptions of dem. in 09’, and medical records which show a pattern not tipical of addiction, with many days between doses in the last two months. Of course, some might keep suggesting (as Waldman did) that those records are incomplete, but knowing that Michael’s visits to Klein were vigilated by paparazzi, makes it difficult to believe there were more secret visits to Klein or viceverse. In any case, that would be only pure speculation.

ABC
Dr. Schnoll said the most important factor in determining if the person should go off the drug is to find out what the underlying problem is

Koskoff: What if a person has chronic osteoarthritis?
Dr. Schnoll: May have remain on medication all his life

If a person has underlying condition and take opioid they could function better, Dr Schnoll explained. There's no harm in doing it medically

Koskoff: Any famous people who have been opioid dependent?
Dr. Schnoll: President John F. Kennedy (Judge asks why?) Back pain.


Koskoff said based on the medical records in the last 16 years of <acronym>MJ</acronym>’s life, he was Demerol free for 13 1/2 years.
Koskoff asked if that was consistent with a drug addict. Dr. Schnoll answered.

 

[Soundmind]

ABC7 Court News ?@ABC7Courts 7m
For MJ, he calculated 15 and half years of life expectancy, although he didn't offer his opinion on how much MJ would live.
Expand
ABC7 Court News ?@ABC7Courts 7m
Ackerman said Mrs. Jackson's life expectancy was 10 years from 2009. So he stopped calculating future earnings based on that.
Expand
ABC7 Court News ?@ABC7Courts 7m
Period 11 - End 12/31/2019 -- for KJ and children -- $19,452,000
Period 16 - End 12/31/2024 -- for KJ and children -- $21,498,000
Expand
ABC7 Court News ?@ABC7Courts 7m
Projected Support to Plaintiffs (cumulative)
Period 1 - End 12/31/2009 -- for KJ and children -- $1,684,000
Expand
ABC7 Court News ?@ABC7Courts 9m
Katherine Jackson -- Projected Support
From 2009 - 2019
Period 1 - Ending 12/31/2009 -- $557,000
Period 11 - Ending 6/30/2019 -- $6,111,000[/QUOTE]

I believe the Jacksons will argue if Noah lived for five hundred years why Katherine's life expectancy was only 10 years :lol:

 

[Bubs]

Bubs what is this medicine. It seems to be something to help with anxiety, because Cascio mention "to help prepare for the show." I wonder why he would be anxious about the show though? Then, he says the new doctor came the night of the first concert. Then, the family talked to Michael a couple of days before the show. How many shows were there for MSG?

I think FC is talking about that he noticed MJ was taking something a few days before the first show, and the day of the first show, he found MJ sleeping when he was supposed be be in hair and make-up. This was what Karen testified about her bagel therapy.

I was skimming his book again and found this:
&#8220;You did this to try to get out of the show,&#8221; I fumed. &#8220;It was an excuse.&#8221; Michael didn&#8217;t say anything, but I saw from the look on his face that he knew that I was right and that he had let me down. &#8220;My back was killing me, and I had to do the show,&#8221; he said. &#8220;I&#8217;m fine.&#8221;

That is nearly exactly the same what KF wrote in her email to RP and others that MJ might try to sabotage his shows.
I think, as FC never saw KF face to face before, but talked on the phone with her, KF must have told him that MJ have tendencies sabotaging his shows, and FC repeated it in his book what he heard from KF.

Frank calling the family was not the right thing, because he KNEW Michael does not listen to them. You can't ask someone to help another, if the person in need of help does not recognize the authority of the helper. He needed to call someone Michael holds in high esteem & who Micahel would listen to, and we all know who that is.

Another question: Why did Michael relapse in New York? Is it that doing this show with the brothers was stressing him out? What was going on at that time that acted as a trigger? That is another problem with Dr. F. He was supposed to question Micahel and find out what situations acted as a trigger (he found out about Michael problem on the internet.). Then, he had to work with Michael with these triggers, because if he does not, when the situations occur again, the first thing the patient will do is look for the old methods of dealing with it, which is exactly what Michael did--Frank claims he went back to the same medicine.

Family would be the last thing to call for help. If you have an addict in bad way, you need to bring in someone that this addict trusts, and family ain't the that.
I was thinking what triggered that to happen and somehow I thought of this:
"Jack Wishna states he never saw any drug use but it was his family coming back into his life that brought back &#8220;weirdness&#8221;, Vegas businessman and dealer worked with MJ for 7 months from December 2006-mid 2007"
&#8220;The family started to, you know, bother him again&#8230; His father Joe. It just started &#8211; a lot of the weirdness started to come back,&#8221; he continued.

We have no idea the way Jackson's behave behind the doors, I just leave it at that.

It seems there was no plan in place. I get the feeling too that Frank and family would simple say Michel don't take that, go to rehab, or ask if he is on something, but non of them had a plan to help. No brother/sister said, let me call him each day, let me text him some daily support messages, etc. We don't hear that, and to me it is this form of person-oriented daily support that really helps. I think that is what Micheal needed, and I hope if I get into a situation like that, my family or close friends will be calling or emailing daily to check up on me. I notice something about Michel, and that is if he does not want you in his business he will say everything is OK. He did it to his family, to Kenny.

Family wasn't serious to get help on MJ. If there were a situation that MJ was in bad way, family goes to talk to him, and he says lets go on tour, they would agree and would have forgotten why they went to beggining with.

 

[Justthefacts]

Frank was worried about Frank. Not saying Frank did not care about Michael but Frank like many was in it for his benefit has well

 

[Bubs]

Bubs so now not only did Randy not go to Taiwan, but he also was not in the hospital as he claimed.

It is because Randy is delusional and have Napoleon complex. Did you noticed about his bragging about how hard he worked on memorial?
"Randy said he pushed everything to the side and was getting together this memorial for him and did it with AEG, Kenny Ortega and those guys.
Randy: I practically slept there to put the show together."

The bolded part, he takes the credits putting to "show" together! !st of all, it wasn't show, and secondly I don't belive a nano second that Randy's participation was more than AEG people might have asked him yes or no question and he replied either one, nothing more. Randy simply is incapable doing anything as big as that, otherwise we would have seen great shows from brothers. This is where his Napoleon complex comes in, he has to boast his invisible achievements, and if you remember MSG where he pushed MJ to move away. In his delusional mind, it was his time to shine, never mind it wasn't about him, it was MJ's 30 anniversary thingy.

 

[Bubs]

ABC7 Court News ?@ABC7Courts 7m
For MJ, he calculated 15 and half years of life expectancy, although he didn't offer his opinion on how much MJ would live.
Expand
ABC7 Court News ?@ABC7Courts 7m
Ackerman said Mrs. Jackson's life expectancy was 10 years from 2009. So he stopped calculating future earnings based on that.
ABC7 Court News ?@ABC7Courts 9m
Katherine Jackson -- Projected Support
From 2009 - 2019
Period 1 - Ending 12/31/2009 -- $557,000
Period 11 - Ending 6/30/2019 -- $6,111,000[/QUOTE]

I believe the Jacksons will argue if Noah lived for five hundred years why Katherine's life expectancy was only 10 years :lol:

:rollin:


I wonder what she though of her life expectancy? She might have said to herself, "I'm surprised to have lived even this far due my cubs antics"

Once again, their own actions will ruin their case. Last years granny-napping episode when they said she suffered mini-stroke, comes back to bite their arses.

 

[Bubs]

Plaintiffs tried to stop Ackerman testimony.
From Ivy's documents:
3. Late identified and improper designation of William Ackerman
Ackerman is a CPA and an retained expert for AEG. He is expected to talk about Michael's finances , the support Katherine received from Michael and any alleged economic loss.

On April 9, Katherine's lawyers say that they will cross list Ackerman as a fraud expert.

AEG states a) time to designate experts have passed b) fraud is not a cause of action in this case c)fraud is not an area of expertise for Ackerman. So AEG argues Katherine's request to cross-list Ackerman as a non-retained fraud expert should be denied.

Note : the motion mentions Katherine want to elicit Ackerman's opinion that a certain document is somewhat fraudulent. This document was produced more than 9 months ago (June 27 2012).

and this bit from motion of limine:
Exclude AEGs expert William Ackerman &#8211; Denied in part, granted in part
Granted as to the amount Jacksons receive from MJ Estate including TII film proceeds.
Denied as to MJ&#8217;s debts as MJ&#8217;s financial condition at the time of his death has relevance to his future earnings potential.

 

[ivy]

I was shocked at the 17% interest MJ was charged. It makes perfect sense to me given the 400-500 M in debt and the huge interest rates that MJ needed 30M per year just for the interest. That means that the principal--the 400-500M--is UNTOUCHED. In that scenario, you are running in place on a treadmill--having to come up with 30M a year on interest alone, so you never get the principal paid off. In this situation, most people would consider bankruptcy as inevitable, and it is interesting that MJ's primary lenders formed the trust that would exclude others from taking his main assets in a bankruptcy. That's how worried they were that he was headed for bankruptcy in 06.

from 2006 Prescient lawsuit we knew just the base loan amount was $272.5 million. There was additional loan taken on that as well as other smaller loans. And you are right that this is all due to interest rates. Almost 17% interest probably due to bad credit score which is due to continuously refinancing the loans and not paying them. With the $30 M interest annually it looks like as you said impossible to pay the principal of the loan. Money went to annual interest payments but weren't enough money to cover the payback of the principal of the loan

It's actually sickening and most fan don't realize just how invasive and bad it's become.

most fans have realized it before the trial started and therefore did not want this trial to happen. Others think it's worth it for truth and justice.

 

[twinklEE]

.. Others think it's worth it for truth and justice...

this is NOT about truth and justice.. it's never been about truth and justice.

 

[Bubs]

Ackerman said he/his firm reviewed over 200,000 pages of documents. About 10 people in his office worked in reviewing these documents.
Strong showed Ackerman a question that was posed to Arthur Erk. He was asked if he reviewed thousand of documents in this case.
Erk responded he had access to them but decided to read only what he thought was pertinent.
Erk's testimony: Otherwise we'd spend millions of dollars and I didn't think this was necessary.
Ackerman said he reviewed all docs, didn't amount to millions of dollars. He testified his firm spent between 2800 - 3000 hours on this case
"We submitted invoices in excess of $800,000" Ackerman testified. He said he doesn't know how it's possible to opine without reading all.

The battle of experts, which one read the most documents
Good start from defense as they showed that Ackerman read all the documents and that shows jurors that he has based his opinion from all of the documents provided to him, whereas plaintiff's experts testified that he only read and based his opinion on what he though was relevant.
Btw, in case plaintiffs loses this case, that bill will be sent to KJ and her lawyers.
-------
"He had significant debt over time, the interest had become more and more burdensome to meet," Ackerman described.

He mentioned that MJ's interest was somewhat 16.8%. I wonder how come he or his staff wasn't able to negotiate smaller percentage as Branca did after he took over the estate?
--------------------------

The expert said MJ was to continue to receive $6.5 million every year for royalties and $11 million from 2008 and forward until 2014.

I take that these are royalties from his own and sony/ATV catalogue? Does anyone know why he only receives royalties until 2014?
-------------------------
"Ackerman said there were not a lot of books and records provided for the year 2007. MJ had some sort of dispute with his business manager."

Tohme?
--------------------------------

I'm clad Ackerman testifed about MJ's expenses that they came from interest, NL and other things so tabloids can stop mocking MJ's spending.
---------------------------
Strong showed chart with MJ's outstanding debt:
2001 -- $231 million
2005 -- $275 million
2006 -- $325 million

Was that increase from 2005 to 2006 Randy's doing as he was meddling with MJ's money?
Altough KJ doesn't like to hear bad news, hopefully she was listening.
--------------------------
"Ackerman: Mr. Jackson never got paid that money from royalties, it went straight to the lender."

Where did he get money do pay KJ support and other things if he didn't have income.
That also would explain that AEG had to advance everything as MJ simply didn't have money to pay to anyone from his own pocket, and this includes CM. I don't think MJ was aware of $5 million that Tohme was holding which was secret between T and MJ, more like secret between tohme & Tohme.
------------------------
Neverland:
Ackerman said about $23 million had been lent against Neverland.
Colony Capital came in and replaced primary lender -- non-interest bearing loan to MJ for $23 million.

Thats a good thing they did, isn't it?
-----------------------
Ackerman said the mortgage at Hayvenhurst was delinquent 3-4 months and was scheduled to be foreclosed on June 26, 2009, a day after MJ died

I cannot think of any reason why would MJ buy a motor home for KJ and other expensive gifts, but she doesn't care about Havnehurts heading to foreclosure? Was she planning to move that motor home after she lost Havenhurst?

 

[Soundmind]

Ackerman said he/his firm reviewed over 200,000 pages of documents. About 10 people in his office worked in reviewing these documents.
Strong showed Ackerman a question that was posed to Arthur Erk. He was asked if he reviewed thousand of documents in this case.
Erk responded he had access to them but decided to read only what he thought was pertinent.
Erk's testimony: Otherwise we'd spend millions of dollars and I didn't think this was necessary.
Ackerman said he reviewed all docs, didn't amount to millions of dollars. He testified his firm spent between 2800 - 3000 hours on this case
"We submitted invoices in excess of $800,000" Ackerman testified. He said he doesn't know how it's possible to opine without reading all.

The battle of experts, which one read the most documents
Good start from defense as they showed that Ackerman read all the documents and that shows jurors that he has based his opinion from all of the documents provided to him, whereas plaintiff's experts testified that he only read and based his opinion on what he though was relevant.
Btw, in case plaintiffs loses this case, that bill will be sent to KJ and her lawyers.
-------
"He had significant debt over time, the interest had become more and more burdensome to meet," Ackerman described.

He mentioned that MJ's interest was somewhat 16.8%. I wonder how come he or his staff wasn't able to negotiate smaller percentage as Branca did after he took over the estate?
--------------------------

The expert said MJ was to continue to receive $6.5 million every year for royalties and $11 million from 2008 and forward until 2014.

I take that these are royalties from his own and sony/ATV catalogue? Does anyone know why he only receives royalties until 2014?
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"Ackerman said there were not a lot of books and records provided for the year 2007. MJ had some sort of dispute with his business manager."

Tohme?
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I'm clad Ackerman testifed about MJ's expenses that they came from interest, NL and other things so tabloids can stop mocking MJ's spending.
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Strong showed chart with MJ's outstanding debt:
2001 -- $231 million
2005 -- $275 million
2006 -- $325 million

Was that increase from 2005 to 2006 Randy's doing as he was meddling with MJ's money?
Altough KJ doesn't like to hear bad news, hopefully she was listening.
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"Ackerman: Mr. Jackson never got paid that money from royalties, it went straight to the lender."

Where did he get money do pay KJ support and other things if he didn't have income.
That also would explain that AEG had to advance everything as MJ simply didn't have money to pay to anyone from his own pocket, and this includes CM. I don't think MJ was aware of $5 million that Tohme was holding which was secret between T and MJ, more like secret between tohme & Tohme.
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Neverland:
Ackerman said about $23 million had been lent against Neverland.
Colony Capital came in and replaced primary lender -- non-interest bearing loan to MJ for $23 million.

Thats a good thing they did, isn't it?
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Ackerman said the mortgage at Hayvenhurst was delinquent 3-4 months and was scheduled to be foreclosed on June 26, 2009, a day after MJ died

I cannot think of any reason why would MJ buy a motor home for KJ and other expensive gifts, but she doesn't care about Havnehurts heading to foreclosure? Was she planning to move that motor home after she lost Havenhurst?

You know she would have made his life a living hell if he did not come up with the money to stop the foreclosure. I don't believe for a minute she was even worried , to her he was loaded with money and had no reason not to pay . That's why she was always asking for more and more .

 

[Bubs]

Ackerman calculated Annual Support to Plaintiffs Around 2009:
Katherine - $1,167,000
Prince -- $785,000
Paris -- $780,000
Blanket -- $780,000
Annual Support for Katherine Jackson included all expenses for Hayvenhurst, Auto/RV,Travel, Gifts.
Annual Support for Katherine Jackson alone:
Hayvenhurst mortgage on March 2009 -- 31,513/month
Hayvenhurst property taxes -- 34,000/year
Hayvenhurst repairs and maintenance -- $111,000/year
Hayvenhurst homeowner insurance -- $36,000/year
Hayvenhurst utilities -- $64,000/year
Hayvenhurst employees/independent contractors -- $252,000/year
(groundkeeper, butler, housekeeper, personal assistant, driver, security man)
Hayvenhurst security/alarms -- $69,000/year
Food allowance -- $30,000/year (just for Mrs. Jackson)
Auto/RV
MJ had given Mrs. Jackson a top of the line Mercedes and recreational vehicle -- $118,000/year
Travel -- $35,000/year
(Family vacations for 2010 was $118,362 and 2011 was $160,471)
Gifts -- $40,000/year

Were those before MJ died or after or both? KJ spent $30,000/year for food? I think it was more like hungry cubs came to visit, and Rebbie as usual came with her bags and emptied the fridge before she left. Good thing that she is banned from Calabas house, so there is food in the fridge for PPB.
Who in the house needs a butler?


Havenhurst mortgage was 31,513/month, and it was 3 month behind, so KJ needed around $ 100 thousand to pay mortgage to be up to date. She had a motor home and Mercedes! Could she not sell them to save the house? MJ didn't have money to pay his own doctor but as long as KJ got what she needed, everything was ok in her household.

I could see many things that the useless hangers living in Havenhurst could have done so costs would have stayed a little smaller.