Michael Jackson's mum Katherine Jackson loses bid to stop $890 million music sale to Sony
Michael Jackson’s mother has lost her bid to stop a $US600 million ($A890 million) deal to sell off his songs.
The executors of the late King of Pop’s estate - John Branca and AR executive John McClain - who also run the family’s trust, announced plans to sell a portion of Jackson’s tracks to Sony Music Group in 2022.
The plan was met with resistance from his mother Katherine, 94, who filed several objections insisting the sale would be contrary to her son’s wishes.
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By continuing you agree to our Terms and Privacy Policy.A Los Angeles appeals court has now ruled the sale can go ahead declaring Katherine’s objections “lack merit”.
In paperwork filed in Los Angeles on Wednesday - and obtained by People - the ruling declares: “The will gave the executors broad powers of sale, with no exception for the specific assets at issue in this case.
“As such, the probate court did not err in concluding that Michael intended to allow the executors to sell any estate assets, including those at issue in the proposed transaction ... all of the estate’s assets will be distributed to the trust”.
The late singer’s millions are handled by the Michael Jackson Family Trust and the beneficiaries are believed to be his three children Prince, 27, Paris, 26, and 22-year-old Bigi, also known as Blanket, as well as several charities.
Katherine is a beneficiary of a sub-trust, which allows the trustees to pay for her “care, support, maintenance, comfort and wellbeing”.
She previously claimed the singer - who died aged 50 in 2009 after a drug overdose - had wanted to keep the estate’s assets in the family.
It comes after a report suggested the Thriller star was more than $US500 million in debt at the time of his death.
Documents seen by People revealed Jackson - well known for his extravagant spending habits - owed hundreds of millions of dollars in unpaid debts and was busy writing new songs and preparing for a residency at The 02 in London in a bid to bring his financial troubles back under control.
