Financial woes for Michael Jackson

by Kenneson 0 Replies latest jw friends

  • Kenneson

    Michael Jackson's financial problems are hardly solved. Seems like worse. The following article appeared in today's paper.

    The Tallahassee Democrat

    December 29, 2005

    "Michael Jackson faces seizure of assets"

    Michael Jackson's advisers scrambled to cut a deal Monday to halt a $272 million foreclosure that would strip the pop star of his share of the Sony Beatles music catalog and, possibly, his cherished Neverland ranch. As the New York-based Fortress Investments Group prepared to seize the pop star's assets today to cover his unpaid debt, his advisers burned up phone lines pleading for a six-month extensiion, sources said. "There are discussions under way to stop the foreclosure. An extension is likely to be granted," said a source familiar with Jackson's business woes.

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