Michael’s spokesperson: Neverland is not at risk

Some time ago, Michael was given a 90-day warning to prevent Neverland—his beautiful property in Los Angeles—from being seized by a financial company that the pop star owes $23 million to, by paying the principal of the loan and its interest.

One day after the warning was released, Raymone Bain, Michael’s spokesperson, announced that Michael has not been negligent in paying his loan, and therefore Neverland is not at risk and Michael will not lose the property.

Raymone Bain said in a statement last Thursday that Michael’s former financial advisers had taken out a loan in 2006. This loan was due last month, and Michael is currently arranging refinancing.

“Mr. Jackson is in the final stages of refinancing and will not lose Neverland.”

Source: eMJey / Associated Press