Temporary Administrators Say Jackson Estate is Financially 'Solvent'

Michael Jackson's Doctor
Copyright 2009 Dave Hogan / Getty Images
"The Insider" has learned that temporary administrators handling the estate of Michael Jackson have recovered millions from the late icon's former financial advisers, and they claim Jackson's estate is financially solvent.

According to court documents filed by attorney John Branca and music executive John McClain, temporary administrators of Jackson's estate, the two say they have recovered $5.5 million in cash and "substantial amounts of tangible personal property" from the King of Pop's former financial advisers.

The administrators also say that Jackson's estate is financially solvent.

The court filings state that Branca and McClain are working on deals that could generate "tens of millions of dollars of revenues."

Branca and McClain also say in the papers that they have plans to submit the deals to the court for approval sometime next week.

Keep checking back here for the latest developments on this story.

Published 7/24/09 by the Insider

Comments (21)

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  • MJJ you died so that others in the entertainment field could live and get some assistance; God could allow yo to go home because her house and business affairs were in order despite all the lies everyone has told on your fiscial responsibility. I...
    RosemaryS6 9/19/09 Reply
  • the moon walker is a hard dance to do this i love you becuse you ican magen has MJ dead a'm so so sad for you my hero pop i miss u so sweat heart THE BIG LOVE FOR MICHAEL JACKSON GOD PLASS YOU FOR EVERfrom (RAMy HAIATY)
    Anonymous 8/3/09 Reply
  • i will miss him so much
    greenprincess 7/27/09 Reply
  • Michael has an incredible talent that will live with us forever! :)
    Anonymous 7/26/09 Reply
  • My comment is about the entertainment news now a days. It has been very tabloid like and I am almost embarrassed for the hosts of these shows, the way they deliver the news as if they personally know these celebs. I am concerned for Michael...
    NoelG4 7/25/09 Reply
  • i will miss him but sometimes peple need to kep there mouth shut!!!!!!!!!!!!!!********
    Anonymous 7/25/09 Reply
  • i will miss michael jackson j.
    Anonymous 7/25/09 Reply
  • did not understand anything so I say he did not deserve to die so I know he makes me faut muinta he was my friend and love of all. I love you baby love it.
    elisangela 7/25/09 Reply
  • IT WAS NOT A GOOD JOURNEY FOR, MAY HIS SOUL REST IN PEACE. AND MAY THE LIVES OF HIS CHILDREN BE ON THE HANDS OF GOOD PEOPLE.
    VAALTYN 7/25/09 Reply
  • j'ai le chagrin vers la mort de michael et je envoie tous mes condelenses a sa famille surtous ses enfants salwa
    amouremassari 7/25/09 Reply
  • im still under shok,,:(,,rest in peace my friend,,fan from Tunisia
    KerkeniF 7/25/09 Reply
  • Today is July 25, one month since the passing of Michael Jackson, I know it's true, but how I wi wasn't. I write this with tears in my eyes, because I am still heartbroken. Gone but never, I said never forgotten. And as much as they try they will...
    Anonymous 7/25/09 Reply
  • The Last King of POP Leave the World After leaving
    Music Treasures
    Will always be in the heart of the world
    othmane010 7/25/09 Reply
  • he will be missed ad never be forgotten
    ErinO11 7/25/09 Reply
  • we're going to love you 4 ever we miss you ... :'(
    Anonymous 7/25/09 Reply
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