TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

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

No Avatar
61.

dreem    

what is this i hear about his videos? each vid.. cost 25k a second? EVERY1 SPEAKING ON THE DECEASED $$$....WHO ISN'T PROPERLY BURIED YET...!!! Is a damn shame... All the money in the world....! but ya ass will stay TRasH.... i'd advise heathens like that to get their own talent.. Or take their precious money and HIDE!

1900 days ago
62.

TragicallyHip    

wonder what beneficiaries Katherine is concerned about, was MJ involved in the Nation of Islam in 2002? I thought it was later?

1900 days ago
63.

Andrea    

Why would he die two and a half weeks before his comeback tour? If he thought about everything I think he would commit suicide after his first show or something, like a big goodbye. It would be more impressive. Maybe he was planning, and that doc just f**ked everything by killing him before that.

1900 days ago
64.

Beth    

kudos and great coverage TMZ. Enjoying the play by play.

1900 days ago
65.

MJwasMurdered    

Yeah, he had a plan to commit suicide, before his failed tour...he couldn't handle the fact he couldn't do it. He didn't want to spend the rest of his life ashamed..

1900 days ago
66.

appleofmyeye    

There is a huge problem with this....this man did not care about his kids..why leave them 40%. Regardless of family when a parent has children and no other immediate family such as a spouse 100% of everything goes to the kids with someone appointed as the executor until they are of age. I have in my will a letter to my children what I want them to do with the assets. Where is the love..40% to three kids? Come on something is wrong here..we will find out soon enough and the only ones suffering here is the kids.

1900 days ago
67.

mini    

intention and plan for a suicide ??

1900 days ago
68.

Kankles    

Some of you people act like you know the Jackson family, what's best for them, the kids, etc. Please just shut up! Don't you all have a life? I happened to be on my lunch hour and noted this f'-ing circus of obsessional advise-givers. They should close the courtroom doors and let the family do their business in private. Jeeeeze TMZ minute-by-minute. Can you not let Michael Jackson rest in peace? He is not a freak-show. His children have lost a father, his mother has lost a son..... Granted, it is a huge loss. I loved Michael's music, his humane heart, and his heart..... But this is not a freakin circus people!

That is why we should all give respect. Now, I am walking away from my computer and will listen to what's up tonight on "E." TMZ is freakin ill........ Entertainment news vultures. Harvey, shame on you..... You're an ass!

1900 days ago
69.

JOHANNA EPSTEIN    

WELL ALL I CAN SAY IS THAT ..........................................WERE THERE'S A WILL, THERE'S A RELATIVE

THE MAN WASN'T DAFT NOW WAS HE.
AFTER ALL HIS MUM AND DAD ARE STILL MARRIED AND IN A COURT OF LAW THE DAD CAN HAVE SOME OF THE MONEY HE LEFT HER .............. YOU CAN HAVE A THOUSAND FATHERS BUT YOU WILL ONLY EVER HAVE ONE MOTHER ..NO MOTHER SHOULD HAVE TO BURY HER CHILD... PLZ KATHERINE STAND ASIDE AND LET THEM DO THERE JOB FOR WHICH THEY WHERE APPOINTED.LOOK AFTER THE CHILDREN THEY WHERE MORE PRECIOUS TO MICHAEL MORE THEN ALL THE MONEY XXXXXXXXXXXXXXXXXXXXXXXX

1900 days ago
70.

Nemo    

When did MJ become a Christian? There were rumours he converted to Islam, but MJ wudnt b involved with Nation of Islam I doubt that very much. Muslims wouldnt even consider those in the nation of islam muslims becuase of sum of their ideoligies.

1900 days ago
71.

Bill    

MJ isn't Dead i seen him in Las Vegas this Weekend he is alive with all the bills he had how would he get out of it? Fake his death that how

1900 days ago
72.

REAL    

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

YOU know that Greedy ass Joe is there trying to get a CUT... You are not in the Will You Greedy Blood Sucking Bastard

This is Why I think MJ Committed Suicide..

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.

1900 days ago
73.

mini    

When a perfectionist can't do as good as many years before, he feel helpless and don't accept himself for his emotional and physical weakness. He hate himself and end his life by drug overdose.

1900 days ago
74.

TragicallyHip    

The executors do not own the assets, they act in accordance with the wishes of Michael Jackson - in normal situations, they would sell all the assets, pay off the creditors, pay the tax man, and then the rest goes to the beneficiaries. I seem to recall hower that he left all his estates to the trust [this is a way to avoid the tax man I believe] and then the trust was going to distribute the money to various beneficiaries - problem is that many of his assets were used as collateral for loans so I think the creditors are going to have get paid first on the secured loans, the unsecured creditors might be SOL though the trust itself could be subject to challenge depending on how insolvent he was when he set it up.

1900 days ago
75.

Kathy    

It looks like to me if Michael Jackson's parents really loved him they would just go according to his will and THAT WOULD BE THAT!

1900 days ago
Previous 15 Comments | 2 | 3 | 4 | 5 | 6 | 7 | 8 | Most Recent | Next 15 Comments

Around The Web