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Michael Jackson

Lloyd's of London Pays Big Bucks

In Death Claim

1/15/2014 1:04 PM PST BY TMZ STAFF
EXCLUSIVE

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Lloyd's of London has dropped its claim that it doesn't have to honor a huge insurance policy on grounds it was never told Michael Jackson was a drug addict ... and we've learned Lloyd's has now agreed to a payout.

Lloyd's filed a lawsuit claiming it did NOT have to honor the policy it issued to cover losses from the failed "This Is It" tour.  Lloyd's felt it had been deceived because no one ever disclosed Michael had serious drug problems.

The case just settled and we know ... Lloyd's has paid something to settle.  We're told it's not the full $17.5 mil under the policy.  We do not know the amount ... just that it forked over money.

The reason a payout is so important  -- Lloyd's essentially folded on its fraud claim.

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79 COMMENTS

No Avatar
31.

mjstf    

It was proven in the trial that he indeed was NOT a drug addict. THAT IS THE STORY!!

249 days ago
32.

News Flash     

Give the money to all those baby boys he molested. They deserve every bit of it.

249 days ago
33.

News Flash     

Or use it to pay the taxes he cheated on.

249 days ago
34.

robertwb3    

Gimme a tissue Tito

249 days ago
35.

(ಠ_ಠ) Jacko The Pretty Little Shemale ( . ) ( . )    

Such a pretty little Shemale.

249 days ago
36.

Clytemnestra    

It must have been cheaper than continuing to fight...often the situation in these cases. Could they possibly thought they would lose? Hard to imagine that, but....O.J. Got acquitted so anything is possible.

248 days ago
37.

marco balletta    

Was MJ Estate helping AEG and backing up AEG’s lies to get the $$ of the insurance policy since Howard Weitzman’s (lawyer for Jackson’s estate) said about Lloyd’s complaint:

"nothing more than an insurance company trying to avoid paying a legitimate claim by the insured." ?

Mr. Weitzman and Mr. Branca, if MJ Estate had a “legitimate claim” , why have you settled the lawsuit for less than 17.5 millions ?

I know the answer…it is because the truth is that AEG sought life insurance on ‘basket case’ Michael Jackson ….and on July 1, 2009 , when AEG “legitimately” (your words) submitted the insurance claim, MJ Estate kept the truth hidden going along with AEG lies…

MJ Estate / AEG threw MJ under a bus claiming the $ of the policy….having Lloyds go after you and your lies !!

MJ Estate SILENCE over AEG seeking and claiming (WITH LIES) life insurance on ‘basket case’ Michael Jackson , made MJ Estate/Branca, partner in crime !!

The fact that lloyds reached a settlement, does not change the truth about your wrongdoings.

4 years ago : MJ’s life , bargained for 17.5 millions …..

Today: MJ’s life . bargained for less than 17.5 million…..

MJ’s life got de-priced in 4 years….

4years ago: Let’s claim $ from a policy because we can keep the truth hidden….

today: let’s settle for less $ because they caught us

Too bad that MJ Estate and AEG’s lies came out of the closet…they hoped they would have got 17.5 millions, lying to Lloyds, avoiding a lawsuit….. they avoided a lawsuit paying a “price” …. they got less $ out of it…

If per AEG contract, Michael Jackson had to acquire a cancellation insurance and name the promoter AEG as a payee….. it means that Michael was both the insured and the purchaser but NOT the payee…does it means that MJ’s Children GET NOTHING of these $…because these money were meant to go to AEG through MJ Estate executor’s hands ?! How morally right these money could even be ?

On June 19, 2009

Production manager for “This Is It” sent an email to AEG executives Randy Phillips and Paul Gongaware that read:

“MJ was sent home without stepping foot on stage. He was a basket case and [director] Kenny [Ortega] was concerned he would embarrass himself on stage or worse yet — get hurt.”

The email, whose subject line read “Trouble at the Front,” was forwarded by Phillips to then-AEG President and CEO Tim Leiweke with the note, “We have a real problem here.”

———

On June 20, 2009 at 1:52 a.m.

R. Phillips wrote an email to Gongaware that said he and Leiweke were going to visit Jackson. “I am not sure what the problem is. Chemical or physiological?”

Gongaware replied: “Take the doctor with you.”

————

On that same day,

Ortega wrote an email to Phillips about the singer:

“There are strong signs of paranoia, anxiety and obsessive-like behavior. I think the very best thing we can do is get a top psychiatrist in to evaluate him ASAP.”

John Branca, Jackson’s attorney, also chimed in, sending an email marked “confidential” to a handful of people, including Phillips, Gongaware and Leiweke.

“I have the right therapist/spiritual advisor/substance abuse counselor who could help (recently helped Mike Tyson get sober and paroled) do we know whether there is a substance issue involved (perhaps better discussed on the phone).”

———-

On June 23 ,

Shawn Trell, senior vice president and general counsel for AEG, asked for an update on the availability of life insurance.

———

"In the week leading up to Jackson’s death, those involved with the tour appeared to be contemplating damage control."

On June 25, 2009,

Michael Jackson died

——-

On July 1, 2009

AEG submitted an insurance claim

247 days ago
38.

duilama    

This picture was taken when MJ was ordering his body guards.......... Look, there is a little boy running away now, go get him............. Oh, look , it is Gavin, quickly, he is running off the property!!!

242 days ago
39.

duilama    

On June 25, 2009,
Michael Jackson died

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

Joy to the world!!!

242 days ago
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