Fight continues over Michael Jackson’s $2 Billion Estate. (Photo Credit – Instagram)
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Following the tragic death of the King of Pop Michael Jackon in 2009, his mother, Katherine continues to face legal hurdles over the estate of her late son. In addition to this, the Jackson family matriarch is also fighting against her grandson Bigi, formerly known as Blanket, over whether her legal bills should be paid from the estate’s funds.
Last year, the co-executors of Jackson’s estate, Attorney John Branca and A&R executive John McClain, won a favorable ruling in probate court related to a reported $600 million sale of half of the singer’s music catalog to Sony. This decision has allowed them to proceed with the proposed deal, despite objections from Katherine Jackson.
Moreover, in a recent appellate brief, Branca and McClain stated that, “they believed the transaction is to the Estate’s advantage and in the best interest of the beneficiaries,” which include Jackson’s three children, Paris, Prince, and Bigi, alongside unnamed charities. Additionally, the executors claimed that they negotiated the deal to capitalize on an asset market that was “by far the hottest it had ever been”, as per the recent appellate brief filed by the estate. The sale allegedly allows the estate to maintain “effective control over Michael’s music” while diversifying its assets. The brief states that all three of Jackson’s children were consulted along with their counsel beforehand and had no objections to the sale.
In this regard, Judge Mitchell L. Beckloff said, “I don’t think I can resolve this today.” The judge who presided over various Jackson’s rulings for the past 15 years retired in April this year, shared, “My hope was that maybe you all would be able to resolve it on your own.” Unfortunately, they couldn’t conclude, therefore, a new judge will now be overseeing the case. In the filing, the executors claimed that the estate was burdened with debt and on the brink of bankruptcy when Jackson died in June 2009.
The recent appellate brief added, “Exercising the powers granted in Michael’s will as confirmed by the probate court, they entered into business transactions involving the estate’s assets that skyrocketed the estate’s value to over $2 billion.”
In the court, the executor’s attorney, Jonathan Steinsapir said, “You may not be the judge who finally lands this plane, but we are definitely getting close. We haven’t had a dispute like this in years — and it’s not that big of a dispute — but we just wanted to thank you.” The estate’s brief states that Katherine was the only one to file a written objection to the sale of Jackson’s assets. She argued that the executors did not exercise “ordinary care and diligence” and believed waiting a few years would better maximize the value.
Furthermore, back in December 2023, Katherine filed motions requesting the estate to cover her legal bills related to her objections, including the ongoing appellate case. In court filings, Bigi argued that the estate shouldn’t cover these expenses, stating it would be “unfair” to force him and his siblings to pay for a case he considers an “extreme longshot.” But Bigi “does not object to reasonable attorney fees and costs” and believes “the overall amount for the trial might be high.”
Katherine is a life beneficiary of a portion of the trust, and she has received more than $55 million since Jackson’s death.
