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Where are Michael's Creditors his Debt Collectors?

MJ#1WhoIsIt

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I know some of you have been keeping up with this, I mean the Executors have been in charge of his Estate for almost 2 months now, they can pay who they want, you would think with people saying they are such good businessmen and cared so much about Michael's Estate this would have been the first thing they would do. Instead of selling his Ferris Wheel from NeverLand to a Carnival in Iowa, or are they really to busy spending his Estate money and putting it in hiding? I really want to know about these debts that led all the News story before he died that where making him so poor and you dont hear nothing about them now, Michael's after death sells will pay off the debts they had claimed in the news, so whats up? These debts where said to be years old. So I ask what do you think, whats the hold up of them coming forth, or are these debts not real debts at all?
 
I don't believe we'll ever get to know. Leaked or made up snippets yes, but specific details about his estate I think will be limited- how limited will depend on what's in the trust and what what falls under probate.

The executors have a challenging task because his estate was significant and complex. I doubt that the $5 million they found that Tohme handed back was a one off either.

The executors probably don't yet know themselves the total value of Michael's estate. He moved about a lot in recent years- we know he had stuff stashed in storage but do the executors know all of the starage sites that he had stuff stashed? Probably not is my guess.

Only once they feel they have a fairly accurate indication as to the total value of his assets, and also feel they are at the point where nothing has been missed or nothing more can be found to be accouted for will they will they look to the creditors but they need to know how much there is available "in the pot" to pay it first.

Where any creditors are concerned they are probably still in the process of establishing who all of the creditors actually are. Loans aside there will be other final invoices (phone bills, utility bills, credit cards, all sorts of invoices from al sorts of suppliers infact will coming in too which will need to be paid and accounts settled.

Then there is the pecking order to consider and implement ie death duties/taxes to be paid first then any others - from the significant ones down. If there's not enough in the pot to clear everything those creditors at the bottom of the pecking order pile wouldn't get paid anything at all.

His estate won't be limited to just those assets (or debts) that is publicly known. Forbes figures re someone's worth for example are just an indication but aren't necessarily always accurate and in some cases could be hugely inaccurate instead.

This is because details about a person's private wealth Forbes isn't privy to and so cannot measure. Michael could have an art and antiques collection worth a small fortune that could easily remain unknown. Neverland is known about but how many homes did he actually have? Did he not have a property in Vegas jointly owned with Janet at one point? And a condiminium too.

I think the main issue isn't about what of his they might be spending but how much he had that they do manage to track down.
 
i think they made the estate aware of all the debts and how this would play out. the way his albums were selling mean that at a good chunk of his debt would be able to be paid off this yr. and with the way mj had it set up while he was alive was that a certain portion of whatever he made went directly to his debt.

now, his atv makes $75M a yr alone....so im sure this debt will be paid off soon. raymone knows a lot about him refinancing the catalogue, the ranch, and the bank loans so if katherine had any questions, she could refer to her
 
nothings changed. the debts were been paid off through the sony/atv deal. that carries on.and presumably more is paid ontop of that to clear them off quicker.not sure whatthe thread started means
 
mischief said:
I don't believe we'll ever get to know. Leaked or made up snippets yes, but specific details about his estate I think will be limited- how limited will depend on what's in the trust and what what falls under probate.

The executors have a challenging task because his estate was significant and complex. I doubt that the $5 million they found that Tohme handed back was a one off either.

The executors probably don't yet know themselves the total value of Michael's estate.
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Thank You Mischief, because this Debts sounds like nothing but Mischief to me. Again I say this was the headlines Michaels Debts, now its hush hush and no one wants to talk about it. This was suppose to be one of the burdens that drugged Michael down as I can remember from some news reports and I believe Branca knows exactly whats in Michael Jackson Estate he just doesnt want everyone else to know. This is a MAJOR ISSUE and concern.




Soso Deaf said:
i think they made the estate aware of all the debts and how this would play out. the way his albums were selling mean that at a good chunk of his debt would be able to be paid off this yr. and with the way mj had it set up while he was alive was that a certain portion of whatever he made went directly to his debt.

now, his atv makes $75M a yr alone....so im sure this debt will be paid off soon. raymone knows a lot about him refinancing the catalogue, the ranch, and the bank loans so if katherine had any questions, she could refer to her
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$75M a Year Alone ? - I rather believe Dick Gregory who spoke with Michael, who has Boldly stated in his Comments a couple of weeks ago, "Michael Jackson Debts where Fake and Michael Jackson was earning 800 MILLION a Year in just his Country Catalogs Holding alone. Its alot of powerful people watching these so called debts and the payoff for them and Katherine Jackson is just at the top of that heap and has made it known to the Courts her concerns of these debts and she has many people on her Team to Straigten it out and Get it Right.
 
I've always wondered, does Michael receive royalties off of the Cirque du Soleil "LOVE" show in Vegas that uses all those Beatles songs?
 
it's not $800M! lol his share is about $75M a yr. and yes, mj gets a portion. he actually attended the show. the same night as lmp, lol but different show.
 
Soso Deaf said:
it's not $800M! lol his share is about $75M a yr. and yes, mj gets a portion. he actually attended the show. the same night as lmp, lol but different show.
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Thanks but like I said Im stick with Dick Gregory on this one, Im ROTFLOA too, because I understand the only way anyone can get $75million confused with $800million is they got the wrong information from the wrong source, like I said Im going to stick with Dick Gregory who Michael confided in and had him as an Advisor on many of his meetings and decisions making for those who want to listen to Dick Gregory himself tell everyone MICHAEL JACKSON was getting an ANNUAL SALARY of $800Million EVERY YEAR not a portion this is what Michael Jackson no one else was getting the video site is post below; and a transcript from the video, Dick Gregory goes on to show how all Michael's misfortunes (Molestation Charges) where well planned including his Murder, I had no ideal ABC Network was involved, this is a MAJOR ISSUE:



Dick Gregory speaks "You Cant Handle the TRUTH":

Sony, Michael Jackson we will Loan you whatever MONEY you need against YOUR CATALOGS here with us (Beatles, Elvis, etc.. your stuff for our stuff), we will give you half of the ABC Catalogs (50% with us Sony )of OUR Country and Western Catalogs if you sign this deal, but there where clauses in the contract; 1. if you DIE we get EVERYTHING BACK we GET IT ALL, or 2. if MORALITY (the Molestation Charges if found GUILTY) something happens we GET IT ALL BACK, I didn’t realize ABC OWNS 98% of ALL COUNTRY AND WESTERN, which means Michael OWNED 50% of ALL COUNTRY AND WESTERN (leaving ABC owning only 48% but that’s the Deal SONY & ABC made with Michael) 53% of Dolly Parton which PAID MICHAEL JACKSON an ANNUAL 800 Million PER YEAR, EVERY YEAR, SO ALL THAT BROKE STUFF THEY PUT OUT THERE was CRAZY (LIES)........so they couldnt get him on the Molestation charges so they had to kill him.




http://www.youtube.com/watch?v=Ip_-Dhljn2Q
 
ack IF that's true t hen it's before taxes. notice that rhianna made $11M from her song that used the mj/dbango line from wbss and soul makossa. now, if she made that much and her share is small, imagine how much M made from it.

$800 and then after taxes it would be $400 then split in half between M and sony, is $200. so that's how much he'd make from that per yr.
 
Lily said:
I've always wondered, does Michael receive royalties off of the Cirque du Soleil "LOVE" show in Vegas that uses all those Beatles songs?
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yes he does. basically everytime a song is played in public played on the radio bought in a shop used in a advert etc

800 mill a year . i bet mj wished. lol
 
Soso Deaf said:
ack IF that's true t hen it's before taxes. notice that rhianna made $11M from her song that used the mj/dbango line from wbss and soul makossa. now, if she made that much and her share is small, imagine how much M made from it.

$800 and then after taxes it would be $400 then split in half between M and sony, is $200. so that's how much he'd make from that per yr.
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Just ROTFLOL; I understand you dont think its possible that Michael Jackson was making this kind of Money and that it seems vitually impossible for you to believe he was but SoSo its enough people that believe and/or know for a fact Michael was getting 800million as Dick Gregory said "Every Year", so its not a problem for those who believe only for those who dont, and I would hate to be paying the same TaxMan you use LOL; but no, the contract DG saw Michael didnt share his 50% withNO1, Sony had to share the remaining 48% with ABC Records and a 2% not disclosed who the owners where, Michael just out BUSINESS them on every trick they tried to outsmart him on and only COWARDS kill so just think Michael really did own the Music Industry in the United States and in some other Countries, and yes there are people on here who dont like it and its showing, kinda gives those who know Michael was Murdered more insight (some would say Evidence & Facts) of why he found "already DEAD" on June 25, 2009. You should go to part "3" of Dick Gregory revalations when he talks about "AEG was NEVER going to host any of the Schedule 02 Concerts it was all a SETUP" to Kill Michael Jackson. The Picture is no longer blurred at all for those who have Eyes to See and Ears to Hear. Only the Blind lead the Blind. But those who seek Truth always find it no matter what it looks or sounds like. Dick Gregory states he in not afraid of "these Big Devils or Big Death" he is going to tell the Truth.
 
MJ#1WhoIsIt said:
Just ROTFLOL; I understand you dont think its possible that Michael Jackson was making this kind of Money and that it seems vitually impossible for you to believe he was but SoSo its enough people that believe and/or know for a fact Michael was getting 800million as Dick Gregory said "Every Year", so its not a problem for those who believe only for those who dont, and I would hate to be paying the same TaxMan you use LOL; but no, the contract DG saw Michael didnt share his 50% withNO1, Sony had to share the remaining 48% with ABC Records and a 2% not disclosed who the owners where, Michael just out BUSINESS them on every trick they tried to outsmart him on and only COWARDS kill so just think Michael really did own the Music Industry in the United States and in some other Countries, and yes there are people on here who dont like it and its showing, kinda gives those who know Michael was Murdered more insight (some would say Evidence & Facts) of why he found "already DEAD" on June 25, 2009. You should go to part "3" of Dick Gregory revalations when he talks about "AEG was NEVER going to host any of the Schedule 02 Concerts it was all a SETUP" to Kill Michael Jackson. The Picture is no longer blurred at all for those who have Eyes to See and Ears to Hear. Only the Blind lead the Blind. But those who seek Truth always find it no matter what it looks or sounds like. Dick Gregory states he in not afraid of "these Big Devils or Big Death" he is going to tell the Truth.
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That's interesting about the 2% not disclosed. I wonder if that's one person with 2% and I'm thinking it possibly is and hmm I'm wondering now...because of Branca's equity share before he sold it to Michael. I've seen reports saying that share he had was 5% then others saying it was 2.5%. If it was the latter then did Sony's legal side also get 2.5% for arranging that original deal.... or did Branca actually get 5% - 2.5% from Michael .. and 2.5% from Sony...which he maybe still HAS? Anyone know?

On the same subject I've been wondering why Branca did sell his share to Michael...but that's probably for another thread altogether.

On the subject of what the press report and choose NOT to report its just so unfair and frustrating to read such biased stuff about him about his finances and yes, I believe there is or was a lot of skullduggery afoot to do with how he was portrayed.

Most every article I've read tells the same story- he was a huge spender, about to go bankrupt etc etc. The Sony/ATV catalogue's VALUE (usually greatly undervalued, or that he didn't even HAVE a share of it at all now) is always referred to, but the massive amount of annual revenue the catalogue generated is never referred to at all! Because the annual income from it makes the amount of debt he had look like absolute peanuts is why.

Likewise, articles about the amount of debt itself - none of them ever mention the fact that Neverland was mortgaged in the first place was to pay Branca for his share in the catalogue. That is too much like a very savvy business decision for them to stomach so it is ignored altogether in favour of the runaway spendthrift usual theme. Nothing either is said about the larger debt. Again, its ye old spendthrift nonsence again - was some if not the majority of it to do with what he owed Sony and the cost to him to get himself out of the Sony contract? I don't know if that was the case but believe it did actually cost him financially to move away from Sony. Anyone?
 
remember mj telling rita cosby that he just wrote a check for half a billion dollars? now mike can stretch the truth but i think he bought back branca's share
 
mischief said:
That's interesting about the 2% not disclosed. I wonder if that's one person with 2% and I'm thinking it possibly is and hmm I'm wondering now...because of Branca's equity share before he sold it to Michael. I've seen reports saying that share he had was 5% then others saying it was 2.5%. If it was the latter then did Sony's legal side also get 2.5% for arranging that original deal.... or did Branca actually get 5% - 2.5% from Michael .. and 2.5% from Sony...which he maybe still HAS? Anyone know?

On the same subject I've been wondering why Branca did sell his share to Michael...but that's probably for another thread altogether.

On the subject of what the press report and choose NOT to report its just so unfair and frustrating to read such biased stuff about him about his finances and yes, I believe there is or was a lot of skullduggery afoot to do with how he was portrayed.

Most every article I've read tells the same story- he was a huge spender, about to go bankrupt etc etc. The Sony/ATV catalogue's VALUE (usually greatly undervalued, or that he didn't even HAVE a share of it at all now) is always referred to, but the massive amount of annual revenue the catalogue generated is never referred to at all! Because the annual income from it makes the amount of debt he had look like absolute peanuts is why.

Likewise, articles about the amount of debt itself - none of them ever mention the fact that Neverland was mortgaged in the first place was to pay Branca for his share in the catalogue. That is too much like a very savvy business decision for them to stomach so it is ignored altogether in favour of the runaway spendthrift usual theme. Nothing either is said about the larger debt. Again, its ye old spendthrift nonsence again - was some if not the majority of it to do with what he owed Sony and the cost to him to get himself out of the Sony contract? I don't know if that was the case but believe it did actually cost him financially to move away from Sony. Anyone?
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WoW ! ! ! had no ideal Branca was so analytical but considering his profession as a pervious ESTATE ATTORNEY before he turned to the stars, I would say this man has alot of doings that need to be undone. I am really starting to put the eye on this man and do some research of him myself. It looks like this is THE MAN who kept Michael in Legal Financial Troubles under the disquise that "Michael was an Elabort spender", Michael had the money to buy $250,000.00 Lamps and Michael was no Fool to his spending habits and the money he owned, so who else was spending Michael's Money like Michael was spending without his permission, could this be one of the reasons Michael is dead, Michael was getting ready to fight one more legal battle and it was against those who had Extorted Money from him for decades, those he had trusted? Was Michael Jackson being Extorted even now?



Soso Deaf said:
remember mj telling rita cosby that he just wrote a check for half a billion dollars? now mike can stretch the truth but i think he bought back branca's share
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I have read this in one of John Branca Blogs and I am going to find it; that John Branca had paid Michael for some stock holdings in their MUTUAL AGREEMENT to no longer be business partners. I know I read it somewhere, I hope I can find it, it may be the way you are saying it that Michael paid Branca but I thought I read Branca paid Michael and I was like what was that for? it certainly look like whatever the case was Branca played a game of Cat and Mouse with Michael from the beginning. But it looks like John Branca has had his mind on MONEY and HOW to Get it and WHO to get it from since the Beginning of his Career;


John majored in music at Los Angeles City College, but soon realized that his talents were better suited for another field, and enrolled at Occidental College and then UCLA School of Law, receiving his JD degree in 1975. John worked as an estate planner until he read an article in the New York Times about Elton John being represented in legal negotiations by an entertainment lawyer. At that moment, John had an epiphany that was what he wanted to do.


So if anyone would know how to write an ESTATE WILL it would be the Expert John Branca now famed Entertainment Lawyer because he knew right away "where his talents where better suited". I would say Mr. John Branca knows his business and his clients business very well. I understand now why he is called "The Fixer".


http://www.johnbranca.com/bio.html
 
This is the most serious question. I believe will lead straight to the killers.

How did Michael Jackson ever go into debt?

 
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