Publications
Partners
Michael Jackson's youngest son, Bigi, and his mother, Katherine, are in a legal row over the sale of half of the king of pop's music catalogue to Sony for a staggering $600 million (R10,8 billion) as well as sky-high legal fees.
The executors of Michael's $2-billion estate last year obtained court approval to go ahead with the sale of half of the music catalogue, despite objections from Katherine (93), and with the approval of Michael's three children.
The sale will allow the late singer's estate "effective control over Michael's music", in terms of the agreement. Michael's musical assets are valued at over $1,2bn (R21,6bn), according to Billboard.
Katherine felt the executors had not done enough to determine the fair market value of the catalogue, and that the estate should "have obtained a premium payment".
She also believed it would've been better to "wait a few years and maximise the value [of the catalogue]".
She is appealing the court's ruling.
Another dimension to the legal clash are the $561 548 (R10,1m) legal fees Katherine owes to fund her objections over the past two years, which she is saying should be paid by the estate.
Michael's youngest son, Bigi (22), formerly known as Blanket, has said this is "unfair", as his grandmother's efforts are an "extreme longshot".
However, according to court documents, he "does not object to reasonable attorney fees and costs" for her initial objection to the deal, as she presented "essential evidence".
But he believes "the overall amount for the trial might be high", and he questioned if "four lawyers charging fees of $840 to $1 400 [R15 120 to R25 200] per hour was necessary".
READ MORE | All grown up: a look inside the lives of Michael Jackson's kids who aim to build on his legacy
In the 14 years since Michael's death, Katherine has received “a large amount of cash and other benefits, totaling over $55 million [R990m] in nearly 15 years", according to court documents.
She receives a monthly allowance from the estate of $160 000 (R2,8m), and the remainder of the $55m (R990m) was spent on buying and renovating her home, transport, a gardener, chef and security.
Katherine’s appeal is pending.
Judge Mitchell L Beckloff, who has dealt with most cases involving the Jackson estate, is retiring in April and a new judge will take over the case.
“I hoped that maybe you all would be able to resolve it on your own,” the judge told the parties.
READ MORE | Remembering Michael Jackson: daughter Paris pays tribute, saying she owes him everything
The next court hearing will be on or before 30 May.
SOURCES: DAILYMAIL.CO.UK, ROLLINGSTONE.COM, BILLBOARD.COM, PEOPLE.COM, INSTAGRAM.COM
