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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

No Avatar
91.

REAL    

TO81. 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.

Posted at 12:47PM on Jul 6th 2009 by appleofmyeye

IF YOU HAVE HAD ENOUGH THEN LEAVE... CLICK THAT RED X AT THE TOP RIGHT HAND SIDE OF YOUR SCREEN...

1749 days ago
92.

Split This    

Who owns the rights to the 100 hours of video of Michael Jackson that AEG has? Did MJ give up his rights to this footage because he died?

1749 days ago
93.

TragicallyHip    

I don't think there is anything shady with the involvement of John Branca, I think MJ called on him when he was in trouble and I have a feeling MJ was not well despite all appearances and not feeling good about this tour, probably not happy that his 10 concert commitment became 50 without really getting his consent, etc.

1749 days ago
94.

The Truth    

the King of POP..................
the King of DEATH
the King of TMZ
lmao

1749 days ago
95.

slt    

If MJ had wanted Katherine to have final approval on financial decisions regarding the estate, wouldn't he have named her as an executor? I don't understand why her lawyer would ask for that.

1749 days ago
96.

Shar    

GET EDUCATED
Think about using this forum for knowledge. If you don't know LAW, what you state is opinion only, NOT FACT.
Once you learn to deal with life in FACTS, you won't show so much ignorance. Mr. Jackson's will states his
wishes - this never means a will be executed in the way one "wishes" it to be...not his, not even yours one day.
Things change after once makes a will....and NO ONE in this forum could know all that the legal papers state.
Go read a book on law and learn something...the day will come when you yourself will perhaps need to draft a will.

1749 days ago
97.

Me2    

The two boys that said Micheal did something to them have BOTH said they LIED. For those of you who believe Michaea did anything inappropriate to them, your just wishing he had touched you because he was so WONDERFUL of a person. Your just jealous you didn't get his millions! RIP Micheal, we love you!

1749 days ago
98.

mini    

When someone feeling extremely depress and lonely, suicide is the only exit.

Did AEG's insurance cover suicide?

1749 days ago
99.

REAL    

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.

CAN THIS BE TRUE ??? IS MRS JACKSON JUST AS MUCH OF A GREEDY MONEY GRUBBER AS JOE ?????

IT IS A DAMN SHAME, BUT IT SURE LOOKS THAT WAY..... SHAME ON ALL OF YOU...

BURY YOUR SON YOU CRETINS !

1749 days ago
100.

Saddenend    

KATHERINE cannot have approval rights - at least while Jowls, uh, I mean Joe Jackson is still legally married to her.

NO WAY.

Joe will burn through Michael's hard earned money on Bluuuu-Rays and his slimy pimp friends.

__________________________


"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."

1749 days ago
101.

Saddenend    

AEG owns it . They made a multi-million dollar deal with Michael. AEG owns the theater footage with Michael getting his cut from it - like all performers do.

______________________________

97. Who owns the rights to the 100 hours of video of Michael Jackson that AEG has? Did MJ give up his rights to this footage because he died?

Posted at 12:56PM on Jul 6th 2009 by Who "OWNS" the Last videos?

1749 days ago
102.

REAL    

MJ SUPPORTED THESE PEOPLE FOR YEARS , HE GAVE THEM HOUSES MONEY CARS
I AM SURE HE EVEN MADE SURE THEY HAD FOOD ON THE TABLE

AND NOW LOOK AT THEM PICKING HIS BONES EVEN BEFORE HE IS IN THE GROUND...

THIS IS SHAMEFUL ............

1749 days ago
103.

shooter12    

Wait til they discover who the true parents of the children are...Yep Debbie Rowe carried them, but Hulk Hogan donated the sperm, and Lohan donated the eggs...

1749 days ago
104.

Winsome Davis III    

John Branca in the Billiard Room with the Candlestick.

1749 days ago
105.

Beth    

Katherine still wants control, why? So her 40% will trickle down to the Jackson siblings. I think it an irony that the most to benefit are the non-biolgical relations. I hope the children do have independent counsel to represent them.

1749 days ago
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