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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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76.

anti-murray    

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.

1937 days ago
77.

Nene    

Listen Lawyers are shark, The two men who were appointed executors of Michael's Will should remain in place, they haven't done Jackson dirty thus far in the past, therefore, I do not see them ruining his kids future for the sake of wealth because I am sure they have their own unless they are planning on selling his stuff for the sake of recuperating his debt which I do not believe they would because I think in their heart of hearts, they do love his kids as he did. The lawyer for the Jackson family Mr. McMillan is looking out for the interest of Katherine and the kids but more so his friends/colleagues whom he hired to be a part of this case. If he had any sense, he would work along well with M.J. Lawyers in partnership for the sake of the kids as well as Jackson's predeceased lawyers because I doubt his colleagues are able to manage the magnitude of problems that are going to result from this sh&t when it hits the fan, sorry if it sounds like I'm doubting their skills but better relationship with the debtors will result from old relationships than new ones. Think about it.
Moreover, Michael was a shrude business man and a good person therefore he would only associate himself with the best people when it comes to situation like this but he would associate himself with people who had his best interest at heart as well as his kids. I understand Katherine's fears but these lawyers need to work together not apart. Learn from him, it is all about love people ... Good luck ... an independent lawyer appointed by the Judge is never a good thing, it will be the Judge's friend as well who will be making millions from his estate, where there is too much money, there is plenty of problems ... Geezzz get along well for the sake of the kids PLEASE. They are the ones suffering MORE.

1937 days ago
78.

Cleveland-West_Side    

He'll need an oversized dumpster if he wants to be buried with one photo from each of his victims.

1937 days ago
79.

TragicallyHip    

Wow a no contest clause - I have never heard of that, that was clearly designed with Joe in mind.

1937 days ago
80.

Jessica    

Excellent job TMZ. Thanks for following this story and the updates.

1937 days ago
81.

Kankles    

#70 is right on time with this. Finally, someone who writes something that makes sense. You people are talking out of your asses. Let the man rest.

1937 days ago
82.

anti-murray    

MJ is a Jehovah's Witnesses, same as his parents.

1937 days ago
83.

Melissa    

No disrespect to MJ but why are you posting nothing but MJ info??? I'll be back to TMZ after the funeral hopefully you'll post on someone outside of of the jackson family/jackson hearring/Jacksons doctors/Jacksons kids
SO OVER IT.......

1937 days ago
84.

KELC    

What is wrong with Katherine? she gets 40 percent what more does she want, the woman is 80 years old-how much more does she need? Poor Michael he didn't stand a chance.

1937 days ago
85.

appleofmyeye    

If Michael Jackson did commit suicide..then I really have no repsect..he took a coward way out..with no and I mean no though of his children.........This needs to stop and people just need to let this man lie..and rest. He has had enough and I have had enough..of his crap..it just hurts..because as I said before it isn't about anyone other that those kids. Adults are adults..those children will suffer all their lives due to this crap...MJ said he loved children..I'm starting to question.

1937 days ago
86.

what    

Thanks TMZ even CNN will be using your info. I saw the tone the Cnn took with your credibility during the interview and was quite tickled knowing what they have gleaned from you in the past. They make themselves look like idiots. I Think a lawyer should be appointed by the court for the children. Katherine should be evaluated to see if at her age she is competent to care for these children. It is obivious that Michael did not care to have his children exposed to his sibilings or to his Father. I hope this Judge is aware of Joe Jacksons brutality to Michael and Michael aversion to his Father.

1937 days ago
87.

Andrea    

Even if he wanted to commit suicide...if he didn't inject medical drug in his body it is not suicide it is a MUDER.

It is like me wanting to kill myself and asking someone to shot me in the head.


About the 40% for mom and 40% for the 3 kid, still it is 40% of over 1billion. I think he knew if he had left less money for his mother they would steal his kids. I think the siblings will try to get some money from Katherine and will leave the kids money alone... that is kind of a smart move, I think

1937 days ago
88.

REAL    



I thought this was always the case when minor children are involved.. It happened to me when i was 12.

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

1937 days ago
89.

TragicallyHip    

Katherine might be legitimately concerned about one of the beneficiaries if it was oh say Nation of Islam or worried about undue influence vis a vis one of the charities. That's the kids money too.

1937 days ago
90.

TragicallyHip    

no Katherine the judge will not grant you approval status, that will slow down the executtors's ability to move swiftlyto protect the assets of the estate/trust

1937 days ago
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