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MJ's Mom: They're Takin' Every Penny You Make

7/2/2010 10:00 AM PDT BY TMZ STAFF

Katherine and Joe Jackson are set to make a bundle off of their various Michael Jackson business ventures.  But Katherine and her hubby haven't figured out ... someone is waiting in the wings to take away everything they make.

0701_katherine_howard_EX_01a

TMZ broke the story ... Katherine and Joe owe more than $13 million to a South Korean newspaper -- the Segye Times.  The paper gave Joe, Katherine, and Jermaine a $5.5 million advance for a Jackson family concert series that never got off the ground.  The newspaper sued in 1994, won a $4 mil judgment which has swelled with interest to more than $13 mil.

Edwin Bradley, a lawyer for the Segye Times tells TMZ, his client will go after anything Katherine and Joe make -- and that includes profits from Katherine's book, the movie projects she's producing with Howard Mann (pictured right) -- everything.

Ironically, Katherine's allowance from the MJ estate could be in jeopardy, since she's making money off of her son on the side.  But the allowance could actually be protected from garnishment.

We're told the newspaper will go to court on September 14 to try and wrestle money earmarked for Katherine from the MJ trust.  Sources tell us, however, there is a big fat zero in the trust now, because the estate is in debt.

Bottom line ... Whatever Katherine makes outside the estate will probably end up lining someone else's pocket.

144 COMMENTS

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107.

Deb    

And you have to test the blue pills OhWell, Deb is coming....
Good luck!
Noses ;)


Posted at 12:36 PM on Jul 2, 2010 by susie


I hope I'll be coming (sp) ;>

(Future Mrs. OhWell)

1519 days ago
108.

SaraJane    

I posted this link last week when TMZ was saturated with 'some' ridiculous over the top articles. I feel I really should post it again.

http://www.mj-777.com/

Very interesting - pertaining to when Michael was in Ireland- I also believe it will have particular consequence in the Murray trial.
Michael had a very good Friend in an Irish Doctor, His name is Dr Patrick Treacy. He is specialist Register & Medical Director. Dr Treacy got to know Michael & they became very good friends, also they had a mutual Humanitarian stand point in common.

1519 days ago
109.

Deb    

Spank That Little Debil Ass :}

Posted at 5:27 PM on Jul 2, 2010 by OhWell

Spank me Daddy spank me!

1519 days ago
111.

Eleonora49    

I Do not understand Why would MRS JACKSON have to Pay so much Money back after all the Years that Passed ??? You MUST BE KIDDING ME 13 Million ?? Come on ... Now please MRS Jackson why do you have all This Lawyers on your Payroll ??? For what??? You do not have to pay back any thing in my Mind it been 16 Years !!! Also why doest the Estate have any MONEY ??I believed they made 1 Billion on sales this Summer ??? I am so confused !!! Well Mrs Jackson if you ever need a Home my Door is open for you.I simple Love you because you a Michaels MOM.Things are sure not easy. We all have our problems today.I gotten layed off 1 year ago can't find nothing what I used to do with the same Pay, so I cut down my things PHONE

1519 days ago
112.

tickles    

they exploited him when he was a boy growing up, its their fault he was screwed up they way he was, any they are still exploiting him after death, shame on them, a damm shame

1519 days ago
113.

Raven    

They SHOULD be made to pay, As in PAY BACK. They took 5.5 MILLION, never lived up to their end, only were made to pay back 4 millton, then never bothered to even attempt to re-pay on a cobtract they probably had no intention of fulfilling,IE:they fleeced the paper,most likely intentionally. Just like MJ is known to have done so oft. That's why all these lawsuits,judgements now. Sadly MJ's creditors had a better chance collecting what he owed them after his death. 3 people took 5.5 million & not 1 bothered to give back what was NOT theirs. Sorry, but I've always believed Katherine has a shady side, really, I don't see how she couldn't be. They took $ to do a job, they didn't do the job.....do you, I, or anyone you know get paid (big $) for NOT doing their job?? They feel entitled,period.

1519 days ago
114.

Raven    

"cobtract"....I meant coNtract,of course. Harvey, please get a spell checker..... ty. ;-)

1519 days ago
115.

JB    

TMZ the comment made by #11 is a too much even for your board. Why are you allowing this to remain posted? The comment is offensive... if you allow this type of hatred on your board then you must be in agreement with the racist person that wrote it.

1519 days ago
116.

peaceanloveMJ    

Inshalla, all these haters will have what they wish to happen for others!

1519 days ago
117.

Eleonora49    

Today I read on M S N.com that a WOMEN gotten Jail time over a 250 Dollar Debt one other one over 300 Dollars Debt( you all can read it ) How sick is our WOLD ????? Were are our RIGHTS ??? WE DID"t make the RESESSION its NOT our Fault we lost our JOBS !!!! BANKS AND BILL COLLECTORS have more rights than us ??? We paying Taxes and have NO Rights ??? Whats going on here with the USA???? Come on! Now...... I can see why Mrs Jackson is in PANIC !!!!!!! IN GERMANY NO ONE IS PUT IN JAIL if you owe MONEY !!!Any Money you owed if not paid will fall off your Credit Score after 4 to 5 Years my sister told me That !!!Whats going on here in USA ??????" I AM getting SCARED.

1519 days ago
118.

my opinion    

well...the debt will be paid.

RIP MJ

Love the Jackson's

PEACE, LOVE and KINDNESS makes it a better WORLD for us ALL to live.

1519 days ago
119.

Mimi    


Harvey, please get a spell checker..... ty. ;-)

Posted at 10:12 PM on Jul 2, 2010 by Raven
______________________________________________

@ Raven

Here is a link for a spell checker that is used with Internet Explorer ... it's an easy download. All you do once it's downloaded is right click on your text as you do in 'Word' etc and choose 'Check Spelling'.

http://www.iespell.com/

Maybe Harvey and crew will add a spell checker to their comments section, till then I use 'ieSpell'

1519 days ago
120.

Ali    

why is the estate still in debt? whats happened to the billion dollars its earned in the last 12 months?

1518 days ago
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