Another Financial Lawsuit

On Monday, a state judge brought a lawsuit filed by a law firm against the MJ publishing foundation and declared the contract between them to be terminated. The law firm had been responsible for handling Michael’s legal affairs. With the claim that Michael had not paid his fees and invoices, the firm sought to end the contract between them and the MJ foundation and to file a $48 million lawsuit against Michael. The judge ordered both parties involved in the case, as well as Michael, to appear in court on September 5. No comment has yet been received from Michael’s defense attorney. Judge Kevin Castle said the firm can proceed with its $48 million lawsuit that it filed against the Pop Sultan in July 2005. The law firm claims that it lent Michael money to pay his debts and to buy more shares in the Beatles catalog—money that has not yet been returned to the firm. The firm also claims that it helped Michael pay $272.5 million of his debt to the bank, as well as $537.5 million to buy another share in the Beatles catalog. The MJ publishing foundation was established by Michael Jackson to acquire certain royalties, including the Beatles catalog and songs written by Michael. Source: eMJey / Reuters