Lloyds London: No compensation will be paid to the Michael Jackson Foundation

Michael Jackson’s This Is It concerts were insured by Lloyds London. But according to TMZ, this insurance company does not want to pay the Michael Jackson Foundation’s $17.5 million compensation. All tickets for the 50 concerts sold within a few hours, but after Michael’s death, the fate of This Is It turned out differently. Lloyds London has asked the judge to exempt them from paying compensation. They say Michael lied about his health status, and they are not required to pay compensation under such circumstances. They have two reasons: 1. Michael Jackson and the concert promoter company, AEG, lied about Michael’s health condition and his medical history. Michael said that since June 2005, he had not been under the care of any doctor except a dermatologist and cosmetic doctor. 2. Michael did not inform Lloyds London about the use of any medication, including propofol. Source: eMJey.com / TMZ