Brian Oxman Interview: Randy Jackson Calls Estate Executors "The Three Stooges”

^^You've got to be kidding. The only reason Randy wasn't in The Unity tour was because, Marlon (totally sure) probably Jackie and Tito were upset at him for what he did in the granny napping last summer. Prince and Paris don't want anything to do with him for what he did to them and their grandmother. Is that having the best interests at heart? HELL NO!

He's the one to blame that disgusting AEG lawsuit is happening, he convinced his mother.

Contrary to the popular belief, he didn't bring Tom Mesereau on board to defend Michael, Johnny Cochran advised Michael and Randy just contacted him. Selling stories to the tabloids and robbing money off his brothers when he was fighting for his life is NOT precisely having the best interest at heart either.

I correct myself in my previous post, Michael IS STILL surrounded by vultures and crooks including most of his family member who look for any opportunity desperately to make money off him.
 
Re: Brian Oxman Radio announces interview with Randy Jackson

Can Oxman get any more obnoxious with the way he was sucking up to Randy? It was so degrading for a "friend". I was almost embarrassed for him.

I thought Oxman was on tranquilizers, as he sounded like hippy on LSD:)

Those two are both sucking up each other. 2 years ago Randy said this about Oxman:
Randy Jackson ?@randyjackson8 16 May 10
My Father is understandably passionate about the loss of his son. Oxman & others around my father, take advantage to promote themselves.

Did Oxman took advantage of Randy too, or was it the other way round so Randy had platform to promote his garbage?
 
Re: Brian Oxman Radio announces interview with Randy Jackson

Someone should give Meserau a link to the interview, mabye his opinion over the "bright Randy" will change.
 
He stayed out of the spotlight, because he was busy plotting and schemeing out of the spotlight. His actions are well documented as well as MJ's testimony against him. I don't get why some fans insist on being so blind when it comes to this guy. Is it only because of his last name? Cause I don't see any sensible logical reason.
 
Steven Randall looking out for Michael? In which universe? Biggest joke of he century, the only thing he was busy with is commiting crimes. He has a high criminal energy as his actions prove it.
 
maviefly;3904088 said:
'Michael was the person who chose the persons in his estate'

......not if the will is fake......:)

and look what the Estate, or let's say Mr. John Branca, did to Michael:

He released the 'Michael' Album which includes 3 at least controversial songs, even if Estate co-executor John McClain expressed that he was against their release. This was one of the worst things he could do, Michael's legacy was damaged.

He released the Wembley concert in crappy quality, so it's clear that in the long run nobody will buy or watch it. This was also very bad for Michael's legacy.

See: it's not always just the money that counts. This is quick money, it's not to keep Michael's legacy alive over the years and centuries. This would be their job. Not some shows which are nice, but nobody will care for anymore when the years go by.

Ah, so it would be so much better to go with the guy who called Michael a drugged-up manipulator and who DELIBERATELY kept Michael's children away from their legal guardian and who has shown on a few occasions that he cannot handle his own finances, much less an estate the magnitude of Michael's!

Uh huh!
 
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Neverland_Valley;3904129 said:
Trying to disqualify the opinions of other fans has been a usual practice among the supporters of the Estate and the Cascio tracks from the very beginning of the controversy. For me, this kind of comment only puts a bad light on the people who make it.

Why is it assumed that because someone is not keen on Randy Jackson they are pro-Estate. The two are not mutually exclusive. When the Estate does crap we call them out. But the estate executors have NEVER degraded and humiliated Michael and his children they way that some Jackson siblings have done. So whatever!
 
Re: Brian Oxman Radio announces interview with Randy Jackson

I cannot bring myself to read the transcript but thanks Petrarose for all your hard work.

I was done with Oxman a minute after Michael's death was confirmed.

And I was finished with Randy Jackson after checking out his testimony in the AEG trial.

Done, done and DONE.
 
Considering latoya only saw mj five times in around 15 years i think we can probably half that figure if you are luck for the nasty piece of work that is steven. For randy to claim mj told him anything about branca is frankly laughable. for that u would have to have a relationship first and for mj to even want to tell him such info. but that would go against the deluded waltons image the family like to push.i prob talked to mj in the last ten years more than steven got near him lol
 
Re: Brian Oxman Radio announces interview with Randy Jackson

According to Randy, the real will is under seal in the court. Maybe he could tell us who brought this real will to court; who are the heirs, and who is the executor? How come the person who was holding the real will did not come forward and claim they gave the court the will. How come only Randy is saying that?
 
Bubs;3904900 said:
^^ I'm sorry but Randy's points comes out of his arse and what some fans tweeted him after MJ passing and he took them as true.

I posted this already on trial thread
From his infamous letter:
Our brother told us, in no uncertain terms and without hesitation in the months prior to his death, that he despised both of you and that he did not want either of you to have anything to do with his life or estate for that matter.

OK, it is clear in his letter that he has spoken (according to himself) to MJ and MJ told him those things.

Lets see what he testified under the oath:
Q: When was the last time you talked to your brother before he passed?
R:I don't remember, he was travelling Middle East, and -
Q:Had it been years?
R:No, no
Q: Did you talk to him in 2009?
R:I could have, I don't recall.
Q:You don't recall? Did you see him in 2009?
R: I don't remember.

Btw, MJ refused to attend K & J anniversary if Randy was going to be there, so Randy wasn't there.
So I ask if anyone can tell me, when MJ told those things to Randy, as Randy cannot remember whether he saw MJ in 2009, but yet Randy says MJ told him he hates Branca?

I don't understand that there are fans that believa a word that comes out of Randy's mouth.
First of, if I remember right, MJ called to Branca to come back last few weeks in his life.
So in order to MJ to tell Randy that he hates Branca, it must have happened last few weeks in his life, got it?
So how MJ tells Randy that he hates Branca and how he doesn't want him to be anywhere near him, if Branca wasn't even hired then? He was hired few weeks before his death.

So Randy testifying under oath that he doesn't remember seeing MJ in 2009 is beyond my comprehension.

If I had a twitter, I would tweet to estate the read Randy's testimony for future refrence.

PLUS, in the notes that the Jackson side gave to court, Michael has Branca's name & others who he wanted. So if in 09 he was trying to put his old team back, when did he claim he did not want Branca anywhere around him? The reason Randy is getting away will all these statements, is because no one brings in all the other facts when they talk to him. All those listening to him who do not have facts, will believe him also.

^It is true about Randy not being the one to suggest TMez, but he keeps claiming that all the time.

Dtw one of the reasons Randy is keeping in the background, is because from his own words there are brothers and sisters he is not talking too. He said this in September, then when the did the depositions 2012 or early 2013 he also claimed he was not on terms with some of them. He never says why they are not on terms though.
 
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Re: Brian Oxman Radio announces interview with Randy Jackson

^^That's why it's absolutely ridiculous some people here insist the will is fake when Randy hasn't shown any proof to back his absurd claims up.
 
Re: Brian Oxman Radio announces interview with Randy Jackson

According to Randy, the real will is under seal in the court. Maybe he could tell us who brought this real will to court; who are the heirs, and who is the executor? How come the person who was holding the real will did not come forward and claim they gave the court the will. How come only Randy is saying that?

Huh.. This is interesting, under seal in court? A few or if it was 2 years ago I was in a group on facebook where some woman said this or something similar. That it was to late to bring the real one up because the "fake" (not my words) had already been put in work or how you say. I wonder if Randy get his info from fans only.
 
Re: Brian Oxman Radio announces interview with Randy Jackson

According to Randy, the real will is under seal in the court. Maybe he could tell us who brought this real will to court; who are the heirs, and who is the executor? How come the person who was holding the real will did not come forward and claim they gave the court the will. How come only Randy is saying that?

Randy > :crazy:
 
KaReEnA88;3905073 said:
Steven Randall looking out for Michael? In which universe? Biggest joke of he century, the only thing he was busy with is commiting crimes. He has a high criminal energy as his actions prove it.

^^ I believe it's that universe called >>>non existent. <<< Everything you said was correct! :)

Randy? Caring for Michael? Let me do a quick review here:

•He was apart of the Katherine kidnapping fiasco last year
•He sold lies about his brother to tabloids
•He's doing anything possible to get money from the estate
•He's bitching on and on (excuse ma French) about Paris..when in truth he doesn't care for her or her brothers, he just wants his 30 minutes of fame.

^^ I don't think any of that shows him having his brother's best interest at heart.
 
xosweetseducingsighsxo;3905496 said:
^^ I believe it's that universe called >>>non existent. <<< Everything you said was correct! :)

Randy? Caring for Michael? Let me do a quick review here:

&#8226;He was apart of the Katherine kidnapping fiasco last year
&#8226;He sold lies about his brother to tabloids
&#8226;He's doing anything possible to get money from the estate
&#8226;He's bitching on and on (excuse ma French) about Paris..when in truth he doesn't care for her or her brothers, he just wants his 30 minutes of fame.

^^ I don't think any of that shows him having his brother's best interest at heart.

Randy is full of hate. He drove his car through the gates of MJ's house in Las Vegas--Karen Moriatry's book talks about that. The bodyguards said he was shouting "You owe me money!" They said MJ was so upset he didn't even come out of his house for days afterwards.
 
jamba;3905546 said:
Randy is full of hate. He drove his car through the gates of MJ's house in Las Vegas--Karen Moriatry's book talks about that. The bodyguards said he was shouting "You owe me money!" They said MJ was so upset he didn't even come out of his house for days afterwards.

See, now I REALLY wished I wasn't so young when that happened. And I definitely wished I had been a friend of Michael's that just so happened to be there, because I would've told Randy dead off. Like, "HOLD UP! First of all, have you lost what was left of those small things you call brain cells? Better yet, that peanut in your head you call a brain? What gives you the right to bust through MICHAEL's gates screaming he owes you money? Lemme guess, he owes you money because you and your greasy brother Jermaine decided to have the same baby mama..and not pay child support? Or is it because of all the 'trouble' you went through to spew out those lies about him? No..wait, he owes you money because he made a CAREER for HIMSELF? He made money, FOR HIMSELF? Because he didn't have to ride any of his family member's coattails..*cough cough* You, Jerm, and Toya.

Seems to me you actually owe him money, and a HUGE apology. Now have several seats. I'm done, and Randy you are dismissed."

^^ That's exactly what I would've told him. Humph!
 
jamba;3905546 said:
Randy is full of hate. He drove his car through the gates of MJ's house in Las Vegas--Karen Moriatry's book talks about that. The bodyguards said he was shouting "You owe me money!" They said MJ was so upset he didn't even come out of his house for days afterwards.

Was that the same incident where Randy demanded Michael speak to him or otherwise he would call the press? I found that very telling.
 
Re: Brian Oxman Radio announces interview with Randy Jackson

Huh.. This is interesting, under seal in court? A few or if it was 2 years ago I was in a group on facebook where some woman said this or something similar. That it was to late to bring the real one up because the "fake" (not my words) had already been put in work or how you say. I wonder if Randy get his info from fans only.

No. There are a group of fans who are family and Michael fans. They listen to Randy and believe what he says, so they pass it on. Rather than ask a judge/lawyer who knows his field (not Oxman) what would happen in such a situation, they just believe Randy. They believe that Katherine really went to the spa to relax. They believe the will is fake for the same reason Randy gives, and even if you explain to them about the location and it's importance, about the other wills and trust, just like Randy, they don't understand. The only thing Randy gets from the fans is where Michael was and what he was doing.
 
Re: Brian Oxman Radio announces interview with Randy Jackson

Randy > :crazy:

There is truth said in jest. Randy's mental stability has been in question since his accident and when he makes these outlandish statements and accusations, one has to question his sanity.

Wasn't he the "mastermind" behind the "kidnapping" of Katherine? I mean, he is off the rails. imho
 
maviefly;3904088 said:
'Michael was the person who chose the persons in his estate'

......not if the will is fake......:)

and look what the Estate, or let's say Mr. John Branca, did to Michael:

He released the 'Michael' Album which includes 3 at least controversial songs, even if Estate co-executor John McClain expressed that he was against their release. This was one of the worst things he could do, Michael's legacy was damaged.

He released the Wembley concert in crappy quality, so it's clear that in the long run nobody will buy or watch it. This was also very bad for Michael's legacy.

See: it's not always just the money that counts. This is quick money, it's not to keep Michael's legacy alive over the years and centuries. This would be their job. Not some shows which are nice, but nobody will care for anymore when the years go by.
I guess I am dense but I still don't understand how any of that is really John Branca's fault-he would have to listen to real music experts to determine if the tracks were by Michael-he is not one-and wouldn't you trust somebody whose family has been a trusted ally of Michael from the very beginning? He's probably known those Casio kids for years. The Cirque shows are right now, but there will be more shows and they will live on, just like ballets from the 1800's live today. And One day they'll reissue the Wembley DVD when they have even better technology to restore it-for right now, I'M THRILLED WITH IT!!!!!
 
Please let's stay away from Casico track discussions in here. Take it to the great debate. Lets move on.
 
And speaking of Randy Jackson crashing though Michael Jackson's gates at his home in Las Vegas and claiming Michael owed him money, this article clues us in on why

Mon., Jul. 31, 2006
Michael Jackson's accounting skills are once again being called into question.
The oft-sued artist was named in a new lawsuit filed by Los Angeles law firm Ayscough & Marar, which claims Jackson owes more than $200,000 in legal fees for services rendered in 2005.
The suit, which was filed July 25 in Los Angeles Superior Court and obtained by TMZ.com, alleges that Jackson hired the firm during his child-molestation trial to perform tasks such as obtaining court orders sealing civil cases filed against him from the press and orders staying discovery in those civil cases while the criminal trial was ongoing.
One of the cases the firm worked on pushing back was the lawsuit filed against Jackson by former business associate F. Marc Schaffel, which resulted in a split decision at trial earlier this month.
But it was far from the only case, according to attorney Brent Ayscough, who claims in the suit that by summer 2005, "Nearly all my time was spent on Michael Jackson cases."
And, up until mid-2005, Ayscough was compensated for his toils, per the suit. But then the responsibility for paying the bills shifted from Jackson's business advisor, Ron Burkle, to the law firm of Mesereau & Yu, where Thomas Mesereau, Jackson's lead defense attorney in the child molestation case, is a partner. At that point, per Ayscough, the payments stopped coming.
According to the suit, the firm of Mesereau & Yu was paid a lump sum of $2.6 million that it was supposed to share with various other members of Jackson's ever-expanding legal team. But, according to the suit, Ayscough & Marar never saw its portion of the fund.
Mesereau & Yu is not named as a defendant in the suit, which further details a number of significant debts owed by Jackson, including more than $300 million to Fortress Investment Group, over $1.6 million to his brother, Randy Jackson, and assorted millions to various lawyers.
Jackson's financial woes don't end there. On Monday, a federal judge allowed a breach-of-contract suit brought by Prescient Acquisition Group against Jackson's MJ Publishing Trust to move forward.
The financial firm is seeking at least $48 million in fees for its role in assisting Jackson with refinancing a $272.5 million bank loan and for helping him to come up with the cash to acquire a greater stake in the Beatles catalogue.
A judge ordered all parties, including Jackson, to appear in court in September.
Meanwhile, as if Jackson's legal docket wasn't full enough, trial is scheduled to commence Tuesday in the erstwhile King of Pop's lawsuit against concert promoter Marcel Avram.
Jackson sued Avram last year, challenging his attempts to arbitrate a dispute over an earlier settlement rather than have it resolved in court.
Avram initially sued Jackson back in 2000 for pulling out of a pair of millennium concerts that cost the promoter millions.
In 2003, a jury ruled that Jackson owed Avram $5.3 million in damages--far less than the $21 million the promoter had been seeking, but a victory nonetheless.
Avram's suit also sought damages for a pair of charity concerts that Jackson canceled, but the promoter and entertainer agreed to settle that part of the case out of court.
They reached a tentative deal that allowed Avram to sell CDs and DVDs from earlier Jackson concerts he promoted and agreed that under the terms of the deal, any future claims regarding the nixed concerts would be resolved in Los Angeles Superior Court.
However, Sony Music, which controls Jackson's music, refused to allow Avram to release any material, leading the promoter to pursue arbitration. Jackson subsequently filed a lawsuit attempting to block his former associate from resolving their dispute in a manner other than the one they had previously agreed upon.
Jackson, who recently pulled up stakes and relocated to Europe, is not expected to attend the trial.

http://www.eonline.com/news/52944/michael-jackson-can-t-stop-courtin
 
And speaking of Randy Jackson crashing though Michael Jackson's gates at his home in Las Vegas and claiming Michael owed him money, this article clues us in on why

Mesereau & Yu is not named as a defendant in the suit, which further details a number of significant debts owed by Jackson, including more than $300 million to Fortress Investment Group, over $1.6 million to his brother, Randy Jackson, and assorted millions to various lawyers.

Do you know what is that 1.6 million about? Randy's imaginary charges or what?
 
^yea, probably Randy charging MJ for all the "great work" he did around the trial.
 
^^All these cases what ever happened to them? Did they disappear, because I can't remember seeing them after he died.
 
The fact alone that Michael chose the persons in his Estate, it doesn’t have to automatically mean that they will always do everything right.

There must be mistakes and trials to do the best but in vain … as there’ll always be disappointers.
It is all fine and it is not a crime. It all is just someone’s personal taste or someone’s bad business decisions…
Nothing more, nothing less. It has nothing to do with disrespect to Michael or his legacy.

When I look at Circus Immortal or One shows I can say with no doubts that these projects are made WITH LOVE and RESPECT. And there’s no way for me not to be grateful for people’s everyday hard work. IMO Michael himself would love it.
 
Randy Jackson claims, in the slander sheets that his brother, Michael Jackson, owed him money for helping Michael out, including Michael running up $700,000 on his American Express card, while the trial was going on.

Here's a little more info on the business deal that Randy Jackson involved Michael Jackson in when refinancing Michael's debt.

Michael Jackson lawyers quit N.Y. case
Updated 8/2/2006 4:14 PM ET
By David B. Caruso, Associated Press Writer
NEW YORK — For the second time in a year, a law firm representing Michael Jackson has quit, saying it hasn't been paid and can't get the pop star on the phone.
A federal judge in Manhattan on Monday gave attorneys at Wachtel & Masyr permission to withdraw from a case in which a financial company claims the singer owes it $48 million.

In a letter to the judge, attorney William Wachtel described his trouble communicating with Jackson through a series of representatives. Over months, Wachtel said, he dealt with the singer through one intermediary after another, only to be informed repeatedly that they were quitting or had been fired.

The last straw came, he said, when Jackson dropped out of contact with the firm entirely after his only face-to-face meeting with his lawyers in June, at the luxurious Hotel de Crillon in Paris.

At the session, Jackson apologetically promised to be in better touch, Wachtel said — and that was the last they heard of him.

"Unfortunately, Mr. Jackson has failed to respond to every e-mail and telephone message left for him over the past four weeks," Wachtel said.

A Los Angeles lawyer for Jackson, John Branca, didn't immediately return a telephone message Tuesday.

The legal team is the second to quit the case. Attorneys from the firm of Latham & Watkins quit in November after reporting that their bills weren't being paid and that it was impossible to communicate with Jackson.

U.S. District Judge Kevin Castel said Monday that he would allow Jackson to reorganize his legal team but that he wanted the parties back in court Sept. 5. The judge said Jackson must hire a new lawyer by then or appear in court himself.

Next up for Jackson could be New York attorney L. Londell McMillan, whose clients have included Prince and Stevie Wonder. Jackson's representatives announced in late June that McMillan had been hired to coordinate the singer's legal affairs.

The case involves the Prescient Acquisition Group, which claims it helped Jackson refinance $272.5 million in debt owed to the Bank of America and arrange $537.5 million in financing related to his ownership interest in the Beatles song library.

It is one of a number of recent suits involving Jackson and former business associates.

Last month, a California jury awarded a former Jackson adviser $900,000 related to work he did on videos intended to rehabilitate the pop star's image. The jury awarded Jackson $200,000 in a cross-complaint.
http://usatoday30.usatoday.com/life/people/2006-08-01-jackson-lawyers_x.htm

---------

Prescient Acquisition Group, Inc. sued MJ Publsihing Trust, Michael J. Jackson, and MJ-ATV Publishing Trust on a breach of contract theory claiming that Jackson and his companies owed it for helping him refinance $272.5 million worth of bank loans owed to Bank of America through Fortress Investment Group. The loan was secured with a lien on the Beatles catalog owned by Jackson and he risked lossing the valuable copyrights associated with the songs if he defaulted on the loan. Plaintiff claimed that it arranged the financing and was entitled to compensation for its efforts.

Outcome: Settled for an undisclosed sum. (reportedly $5 million)
http://www.morelaw.com/verdicts/case.asp?n=1:05-cv-06298-PKC&s=NY&d=33340

(Reuters) - Michael Jackson on Monday settled a breach-of-contract suit brought by a financial firm that claimed to have brokered the deal that allowed him to avoid default on more than $270 million in loans last year.

New Jersey-based Prescient Acquisitions Group claimed Jackson owed the firm $48 million for its role in securing the financing he needed to pay off the debt, which was secured by his prized stake in the Beatles song catalog.

Terms of Prescient's agreement with Jackson and his MJ Publishing Trust were not disclosed. The lawsuit, filed in July 2005, was settled as the case was about to go to trial in U.S. District Court in Manhattan.

In its suit, Prescient said it had arranged to secure the financing Jackson needed to pay off $272.5 million in debt originally provided by Bank of America and later sold to the New York-based hedge fund Fortress Investment Group.

The refinancing deal ultimately was reached in April 2006 with help from Sony Corp., which jointly owns rights to more than 200 Beatles songs -- and thousands of songs by other artists -- with Jackson through Sony/ATV Music Publishing.

Sources with knowledge of the refinancing package said at the time that Jackson had negotiated a lower interest rate on his debt and agreed to provide Sony with an option to buy about half of his 50 percent stake in the music catalog.


Jackson, whose music career has long been overshadowed by accusations of sex abuse and by media attention on his eccentric lifestyle, was acquitted in June 2005 of all charges in a child molestation trial. But according to testimony during the sensational case, years of extravagant spending had left Jackson mired in debt.

A default last year by Jackson would have allowed Fortress to seize his interest in the Beatles catalog, valued at some $500 million.

A spokesman for Jackson told Reuters the settlement with Prescient means that the archive of music publishing rights would remain "safe and sound."

The settlement with Prescient -- whose owner, Darien Dash, is a cousin of hip-hop mogul Damon Dash -- removes one of numerous civil court actions that have entangled the self-styled king of pop in recent years.

Remaining litigation includes a lawsuit filed by Jackson's former lawyer, Brent Ayscough, who claims Jackson owes him about $200,000 in unpaid legal fees, and a court battle with the singer's former accountants.

http://www.reuters.com/article/2007/06/19/us-michaeljackson-idUSWEN882720070619
 
AliCat;3913613 said:
Randy Jackson claims, in the slander sheets that his brother, Michael Jackson, owed him money for helping Michael out, including Michael running up $700,000 on his American Express card, while the trial was going on.

Here's a little more info on the business deal that Randy Jackson involved Michael Jackson in when refinancing Michael's debt.

Michael Jackson lawyers quit N.Y. case
Updated 8/2/2006 4:14 PM ET
By David B. Caruso, Associated Press Writer
NEW YORK &#8212; For the second time in a year, a law firm representing Michael Jackson has quit, saying it hasn't been paid and can't get the pop star on the phone.
A federal judge in Manhattan on Monday gave attorneys at Wachtel & Masyr permission to withdraw from a case in which a financial company claims the singer owes it $48 million.

In a letter to the judge, attorney William Wachtel described his trouble communicating with Jackson through a series of representatives. Over months, Wachtel said, he dealt with the singer through one intermediary after another, only to be informed repeatedly that they were quitting or had been fired.

The last straw came, he said, when Jackson dropped out of contact with the firm entirely after his only face-to-face meeting with his lawyers in June, at the luxurious Hotel de Crillon in Paris.

At the session, Jackson apologetically promised to be in better touch, Wachtel said &#8212; and that was the last they heard of him.

"Unfortunately, Mr. Jackson has failed to respond to every e-mail and telephone message left for him over the past four weeks," Wachtel said.

A Los Angeles lawyer for Jackson, John Branca, didn't immediately return a telephone message Tuesday.

The legal team is the second to quit the case. Attorneys from the firm of Latham & Watkins quit in November after reporting that their bills weren't being paid and that it was impossible to communicate with Jackson.

U.S. District Judge Kevin Castel said Monday that he would allow Jackson to reorganize his legal team but that he wanted the parties back in court Sept. 5. The judge said Jackson must hire a new lawyer by then or appear in court himself.

Next up for Jackson could be New York attorney L. Londell McMillan, whose clients have included Prince and Stevie Wonder. Jackson's representatives announced in late June that McMillan had been hired to coordinate the singer's legal affairs.

The case involves the Prescient Acquisition Group, which claims it helped Jackson refinance $272.5 million in debt owed to the Bank of America and arrange $537.5 million in financing related to his ownership interest in the Beatles song library.

It is one of a number of recent suits involving Jackson and former business associates.

Last month, a California jury awarded a former Jackson adviser $900,000 related to work he did on videos intended to rehabilitate the pop star's image. The jury awarded Jackson $200,000 in a cross-complaint.
http://usatoday30.usatoday.com/life/people/2006-08-01-jackson-lawyers_x.htm

---------

Prescient Acquisition Group, Inc. sued MJ Publsihing Trust, Michael J. Jackson, and MJ-ATV Publishing Trust on a breach of contract theory claiming that Jackson and his companies owed it for helping him refinance $272.5 million worth of bank loans owed to Bank of America through Fortress Investment Group. The loan was secured with a lien on the Beatles catalog owned by Jackson and he risked lossing the valuable copyrights associated with the songs if he defaulted on the loan. Plaintiff claimed that it arranged the financing and was entitled to compensation for its efforts.

Outcome: Settled for an undisclosed sum. (reportedly $5 million)
http://www.morelaw.com/verdicts/case.asp?n=1:05-cv-06298-PKC&s=NY&d=33340

(Reuters) - Michael Jackson on Monday settled a breach-of-contract suit brought by a financial firm that claimed to have brokered the deal that allowed him to avoid default on more than $270 million in loans last year.

New Jersey-based Prescient Acquisitions Group claimed Jackson owed the firm $48 million for its role in securing the financing he needed to pay off the debt, which was secured by his prized stake in the Beatles song catalog.

Terms of Prescient's agreement with Jackson and his MJ Publishing Trust were not disclosed. The lawsuit, filed in July 2005, was settled as the case was about to go to trial in U.S. District Court in Manhattan.

In its suit, Prescient said it had arranged to secure the financing Jackson needed to pay off $272.5 million in debt originally provided by Bank of America and later sold to the New York-based hedge fund Fortress Investment Group.

The refinancing deal ultimately was reached in April 2006 with help from Sony Corp., which jointly owns rights to more than 200 Beatles songs -- and thousands of songs by other artists -- with Jackson through Sony/ATV Music Publishing.

Sources with knowledge of the refinancing package said at the time that Jackson had negotiated a lower interest rate on his debt and agreed to provide Sony with an option to buy about half of his 50 percent stake in the music catalog.


Jackson, whose music career has long been overshadowed by accusations of sex abuse and by media attention on his eccentric lifestyle, was acquitted in June 2005 of all charges in a child molestation trial. But according to testimony during the sensational case, years of extravagant spending had left Jackson mired in debt.

A default last year by Jackson would have allowed Fortress to seize his interest in the Beatles catalog, valued at some $500 million.

A spokesman for Jackson told Reuters the settlement with Prescient means that the archive of music publishing rights would remain "safe and sound."

The settlement with Prescient -- whose owner, Darien Dash, is a cousin of hip-hop mogul Damon Dash -- removes one of numerous civil court actions that have entangled the self-styled king of pop in recent years.

Remaining litigation includes a lawsuit filed by Jackson's former lawyer, Brent Ayscough, who claims Jackson owes him about $200,000 in unpaid legal fees, and a court battle with the singer's former accountants.

http://www.reuters.com/article/2007/06/19/us-michaeljackson-idUSWEN882720070619

:lmao:




Oh Randy.....
shirley-temple.gif
 
It is offensive to me when people have an issue with the mistakes the Estate have made and absolutely refuse to acknowledge that the Jackson have messed up as well!

Randy Jackson gave some of the ugliest testimony possible in the trial against AEG, while the Estate made every effort to have some of Michael's private medical information excluded from said trial.

As fans we are not always going to agree with the plans that the Estate has. And sure the Estate has a money motive (as well they should). But despite their money motive, they have shown more respect to Michael and his memory than some members of his family.

Speaking of which - Michael's FAMILY has a responsibility to honourably uphold his legacy because he was FAMILY and NOT for financial reasons. How many tributes, etc have they organised that have not been about lining their own pockets!?

Furthermore, going on Oxman's show is no different to LaToya talking to Guitterez (sp?).

This man was FIRED from Michael's legal team in 2005.

This the man who, minutes after Michael was confirmed dead, was on TV talking about he always knew that the drugs would have got him.

This is a man who has been sanctioned for his dubious legal practices.

This is a man who takes any opportunity he can to insert himself into Michael's life and business in a negative way.

And Randy talks to him!! Birds of a feather, I guess!
 
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