Friday, June 26, 2009

Out Come The Wolves

I'm putting my chips down on close of business today for the first lawsuit to be filed against Michael Jackson's estate. A small army of ex business partners, producers, creditors, and promoters lining up to make a claim, even though it is understood that Jackson has been insolvent for years.

Legal wrangling over the custody of Michael's kids will likely begin in earnest as well. Since Debbie Rowe, the mother of his first two children, sold her legal rights to them years ago. She will have an uphill struggle if she wants custody. Who does that leave? His parents? Ex-wife Lisa Marie Presley? Those kids are Michael's legal heirs to whatever fortune he may or may not have, including his musical catalog, which includes a 50% share of The Beatles song rights.

BusinessWeek has more details on Michael's financial situation. While nothing new is really revealed they do point out that the controversies that surrounded Jackson in life will be around long after his death.

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