Michael and Universal Express Reach an Agreement

By sharing the profits from the sale of the memorabilia among five charitable institutions, Michael agreed to the auction. On Friday, the court case that had been held at Michael Jackson’s request to stop the auction of his family memorabilia in Las Vegas ended with an agreement between the parties. As expected, Michael was not present in court. Universal Express has estimated the value of the memorabilia—set to be auctioned on May 30 and 31 at the Hard Rock Hotel in Las Vegas—at around $50 million. Raymone Bain also, in a statement, expressed Michael’s satisfaction and explained that it had been agreed that part of the proceeds from the sale of the memorabilia would be donated to five children’s charities. Source: eMJey / AP