Michael’s Lawyers Seek a Share of the Profits

On Friday, John Branca and John McClain, acting as the administrators of the Michael Jackson Foundation, along with Michael’s lawyers and the executors of his will, asked the court to grant them 10% of the profits from the activities they carried out during this period as their compensation. Profits from the sale of the film This Is It, Michael’s share from the Sony/ATV song catalog, and Michael’s own songs are not included in the list of items these two are seeking a share of. After Michael’s death, Branca and McClain, by signing contracts to produce a film of Michael’s rehearsals released under the name This Is It, the Michael memorabilia tour, the release of products bearing his name and logo, and so on, have been able to create several hundred million dollars in wealth for Michael’s children, who are his only heirs. Of course, Catherine, Michael’s mother, also receives a share of his assets during her lifetime, along with a number of charitable institutions. John Branca is a longtime friend of Michael, and McClain is also his childhood friend. McClain has agreed to create an album of Michael’s unreleased songs. The two are also opposed to paying a share of Michael’s assets to his father. Michael did not mention his father in his will. In November last year, Joe filed a request for the court to grant him a monthly stipend from Michael’s assets to cover his expenses. He said he needed this stipend to support himself. Michael’s lawyers stated that Joe Jackson did not receive a stipend from Michael during his lifetime, and that paying Joe Jackson would mean reducing Catherine’s and Michael’s children’s stipend. A monthly amount of $86,000 is paid to Catherine and Michael’s three children, and it has recently been increased, though the exact figure has not been disclosed. Brian Oxman, Joe’s lawyer, said that Michael financially supported his father during his lifetime. A hearing has been scheduled for January 29 so the judge can decide on these matters. Source: eMJey / AP