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Jackson Court Hearing

7/6/2009 12:42 PM PDT BY TMZ STAFF

Jackson Court HearingWe're inside the courtroom as the lawyer for the co-executors of Michael Jackson's will, John Branca and John McClain, go before a judge seeking to be named administrator of Jackson's estate.

1:08 PM ET -- Hearing is over.

1:02 PM ET --
The judge just said that decisions involving marshaling the assets, attorney's fees, and settling claims and actions all require court approval -- as well as any modifications to existing court agreements and decisions

1:00 PM ET --
The judge just made it clear -- Katherine is NOT a co-administrator and she is not required to be involved in every decision. But, he pointed out, her attorney does have the ability to object.

12:54 PM ET --
The executors are also interested in operating his businesses (employees, investments, etc.) but any new business ventures would be subject to court approval.

12:49 PM ET --
The lawyer for the executors is balking about giving Katherine approval power. The judge has said he wants the executors to keep Katherine in the loop about decisions being brought before the court.

12:47 PM ET -- Katherine's lawyer is now asking the judge if she can have approval rights before executors make financial decisions with respect to the estate.

12:41 PM ET --
The lawyer for Branca and McClain is talking about the possibility of "extreme loss" to the estate -- as a result of "unlicensed activities." One of the lawyers is talking about the complicated issues involving money with AEG, the tour, merchandise, ticket refunds, pay-per-view, etc.

12:36 PM ET --
And we're back on the record ...

12:28 PM ET --
The judge has ordered a 10-minute recess.

12:19 PM ET --
Bond has been set at $1 million. That is to protect the estate in the event the administrators waste or misspend assets.

12:14 PM ET -- Branca and McClain have just been appointed the special administrators of Michael Jackson's estate.
The judge feels Jackson's 2002 will should be controlling.

12:09 PM ET -- The judge just said he may appoint an independent lawyer for the kids.

12:06 PM ET --
The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

12:00 PM ET --
It appears there is some contentiousness -- the judge said if the two sides continue to squabble, he'll appoint an independent special administrator to temporarily oversee the estate.

11:58 AM ET -- There is a "no-contest" clause in the trust, that distributes Jackson's money. As we reported, 40% goes to the kids, 40% goes to Katherine and 20% goes to children's charities. A no-contest clause means if someone challenges the will or trust they automatically inherit nothing.

11:55 AM ET -- Katherine's lawyer said Katherine was concerned about Branca's relationship with the singer before he died. Branca had rejoined Jackson just weeks before his death.

11:53 AM ET -- Katherine's lawyer is raising questions about the 2002 will, but just said Joe and Katherine will not challenge the will at this time.

11:49 AM ET --
Katherine expressed concern over beneficiaries mentioned in the trust.

11:45 AM ET -- Katherine Jackson has filed a new opposition.

11:40 AM ET -- Attorneys representing various creditors are in the courtroom in addition to Jackson's executors. Also present -- famed attorney Howard Weitzman, who will be working on probating the will and dealing with people making claims against the estate.
287 COMMENTS

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46.

dreem    

I admire Mrs.Jackson for being able to compartmentalize this situation. She is smart to question the facts and remain calm.. Mama Knows Best..

1849 days ago
47.

Della    

A letter written by Michael a few days before he died? Doesn't prove intent. It could actually be a fake. You have to remember that the 3 people who mean the most to Michael in the world were his children. I would doubt he would ever leave them fatherless. Keep that in mind no matter where your mind goes with that.
There is a whole lot more to this story. but I do agree the vultures have come out of hiding. Yes Michael was in deep debt but his estate would pay his debts and still leave him with 200 million after all debts paid off. He also still owns half the rights to the Beatles catalog. Let's not forget that. That alone is a cash cow. It is still making music with new artist today. Michael was very smart where that was concerned. People think he was stupid. He just wasn't willing to part with this to pay off his debts. He was used by people a lot.
We will see how the court cases play out though.

1849 days ago
48.

Keegan    

You don't have to call me names. I was just sharing what's been on my heart and mind the past few days. I am showing you respect by not resorting to child like names and I ask that you do the same.

Forgive me for mourning. Mouring over death is a human trait, a natural instinct.

Goodbye Michael...Goodbye... :*-(

1849 days ago
49.

Cali MJ Fan    

YAYAYAYAYAY!!!!

MJ's children will have a very promising future! YAYAYAYAYAY!

::does a mega happy dance::

1849 days ago
50.

Andrea    

11:55 AM ET -- Katherine's lawyer said Katherine was concerned about Branca's relationship with the singer before he died. Branca had rejoined Jackson just weeks before his death.


12:06 PM ET -- The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

NOW, THAT IS SOOOOOOOOO SUSPICIOUS.

1849 days ago
51.

slt    

12:19 PM ET -- Bond has been set at $1 million. That is to protect the estate in the event the administrators waste or misspend assets.

____

I don't get it. How could a $1 million bond protect half a billion dollars in assets?

1849 days ago
52.

Cleveland-West_Side    

If he's worth say $600 million and he's molested roughly 2400 children over the years, that would be about $250,000.00 per victim.

1849 days ago
53.

noyankhere    

wake up, how long did it take you to wake up to that one?? lol! yep the nutjob -jacko -looney- bins are in the building!! . if anyone of them doubts that he has passed on they really need counselling. would jacksons parents proclaim his death and lie about it??. this is not about avioding the press!!

1849 days ago
54.

Nemo    

Hey, I dont get it, can someone please explain, now that branca and mcclain have been appointed administrators to MJs assetts, i dont get it, whats gna happen now? I mean all the money for the estates etc, will that still go to katherine and the kids or is that branca and mcclains now?

1849 days ago
55.

memomof5    

I and thousands of others grew up with and helped start Michael and his brothers on their musical journey by attending all of their early appearances at the Uptown theatre in Philly. We enjoyed their performances tremendously and have followed their careers and non careers throughout the years. It really tickeled me when my grandchildren discovered the Jackson Five and Michael. I couldn't believe he passed away but I wasn't surprised. I pray for his family and hope the children get some kind of normalcy in their life. Yes the vultures are circling, but they have been there all along. His mother derserves to get, control and have EVERYTHING her beloved son had or will come into now that he's gone. Have"nt these creepy lawyers and hangers on done enough (feeding him drugs and anything else and not having the balls to say no to him), all for that dollar. It is so sad that his life came down to this junkie state, but then again who knows what was going through his mind and heart, things may not be as they appear! May God rest your soul Michael and give you much needed peace.
A Ture Jackson Five Fan for Life!

1849 days ago
56.

Law 34    

Bond is set for 1million... Find a new judge... Go back to court...

1849 days ago
57.

KandP    

Sorry, I am just feeling something is up with this John Branca. JMO.

1849 days ago
58.

REAL    

TO 12:06 PM ET -- The lawyer for the named co-executors says he has a letter from Michael Jackson stating he wanted Branca to be in control of his affairs. The letter was dated June 17, 2009, 8 days before Jackson died.

NOW, THAT IS SOOOOOOOOO SUSPICIOUS.

Posted at 12:24PM on Jul 6th 2009 by Andrew

I think MJ committed suicide ...

Over the Last 3 weeks He got all His Affairs in Order....
The Will, then He Became a Christian and called His Estate Lawyer..

Now that Sounds like MJ had a Plan to Die.

1849 days ago
59.

SuzieQute    

I agree Andrew. That is very very suspicious that MJ should write a letter to a lawyer (a few days before dying) who JUST rejoined him. Now we have a lawyer and a Doctor in the frame. Money truely IS 'The Root of ALL Evil!' When we find out who is responsible - ALL hell will break loose. There will be NOWHERE for them to hide!

1849 days ago
60.

Kerry    

I hope the judge does appoint an independent lawyer for the children. It is very clear that they need one.

1849 days ago
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