elusive moonwalker
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What does NHT stand for? So from reading all of this I'm getting that Michael gets his profit from Sony/ATV every month or however often and this amount he gets is after what has been taken to pay off the loan?
that is the name of mjs trust. from what aveeno said who has the docs and what was posted ages ago. all the money mj makes off sony/atv goes directly into the NHT trust.from the trust it goes to apying his debt.its a good way of making sure you dont default as u cant really touch it.
How does it become Sony/ATV's responsibility to repay the loan, when it was Michael that took it out? Surely it can't be because the catalogue is being used as collateral. Is it something to do with the refinancing deal with Sony? This is all very confusing.
it isnt sonys/atvs responsibilty its MJs. he just takes the money he makes from it and uses it to pay the debt as i said above
Who owns the loan now? If it's being refinanced so many times and hearing that Sony have helped him refinance it, wait am I getting it...? Sony is repaying its own loan?
fortress owns it i believe. at one point city bank was going ot take it after offering mj a better deal but fortress offered to equal it so it stayed with them