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Michael Jackson

AEG Drops $17.5 Mil

Insurance Claim

9/11/2012 7:25 AM PDT BY TMZ STAFF
breaking news

0911_mj_aeg_01
The concert promoter behind Michael Jackson's ill-fated "This Is It" tour has dropped its claim to collect on a $17.5 million insurance policy for the singer ... after the insurance company claimed AEG hid the extent of MJ's extensive drug and health issues.

AEG announced the move last night ... claiming the company has been contemplating the decision for months and it has nothing to do with the discovery of new emails that show AEG had doubts about MJ's health around the time the company applied for the insurance policy.

FYI -- the insurance company, Lloyds of London, had sued both AEG and Michael Jackson LLC in the wake of MJ's death to cancel out the policy. L.O.L. has claimed AEG and MJ were not forthright about the singer's drug addiction and failing health at the time they applied for the policy.

Now, a rep for Lloyds tells CNN ... "In exchange for AEG withdrawing its insurance claim, underwriters agreed to dismiss AEG from the case and to waive any costs recoverable from AEG."

Lloyds says it's NOT dropping the case against Michael Jackson LLC -- explaining they will press on seeking "rescission of the policy due to nondisclosures of Michael Jackson's prior drug use."

168 COMMENTS

No Avatar
31.

What I Think    

Doesn't MJ look like a manly man...NOT!!!

750 days ago
33.

katie10    

no insurance money because....MJ ain't dead..get it now. hoax, hoax, hoax..don't you people get it now..all over his funeral, "Michael LIves"...call Forest Lawn, no one there by MJ's name..look on line, no one listed under Michael Jackson. Drugs..nope...none of this is true!

750 days ago
34.

Michael Jackson    

I´am Alive

750 days ago
35.

black or white    

or they realize what a con man he was. the rabids are losers just like this rags to riches son of a bitch!

he got rich quick off the rabids, they purchased all his ****, they watch all his gold pants video, probably bought those too from some hack on line, worship services are on someones freakin face book page, thats where these freak loving freaks go to hang out.

they will show up after midnight to honor the bastards thriller video. sending out prayers and psalms like they always do. nothing changed with them. they will post up more articles, song lyrics and videos of their king of poop and love themselves as their king did by liking each others post, and hating truths. but who cares? they will never accept the truth, just like **** kicker they worship. hes a pedo, nithing more. there is no article, interview or transcript that will ever convince me of anything more.

you all hail the king of poop, michael jackson

750 days ago
36.

Luz    

When will this man rest in peace?

750 days ago
38.

Spicy mag    

Jacko was a grown azz man. He did it to himself. Wrongful death by his own hand.

749 days ago
39.

Daybreaker    

Did you watch the little Mexican Singer in AGT??? He was voted out from the competition. But, I tell you what, he has more talent in his little pinky then the young MJ at his age. MJ lucked out, because the music field has very limited young talent and TV and show business was at their infancy stage, otherwise, MJ will be left out like his own brothers, strung out and broke, if he was to come to show business now.

749 days ago
40.

Daybreaker    

What a life, he spent all his life living a lie, pretending to be somebody he is not. How sad!!!


King of Pop??? did he feel like a King knowing that he was near bankruptcy and more that $5m in debt? He was that close to ask Elizabeth Taylor for his gift back!


Did he finish paying off for his kids??? No, hell no, his Estate has to continue to pay the mother(s)!!! until she (or they) dies!

748 days ago
41.

Rainbow    

http://youtu.be/ovorIgwVl48

748 days ago
43.

Daybreaker    

they finally woke up realized what a freak
he was & they don't care about wacko anymore.

---------------

Amen!

748 days ago
45.

Freedom Rose    

Look at that dirty wig. Looks like he never washed it. Oh yeah, it was fun to be bald, you never have to wash your hair, or your wig, for that matter. And you know what, besides being called Wacko, he was also called smelly.

Hey, it would be so endearing if we all start calling him " smelly wacko". But the rabids would say, don't ever call him "smelly pedo"!

747 days ago
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