Michael Jackson Estate -- Claim for $300 Mil

2/22/2010 9:30 PM PST

Michael Jackson Estate -- Claim for $300 Mil

The company that sued Michael Jackson for allegedly torpedoing a family concert has just filed a $300,000,000 creditor's claim against MJ's estate.

AllGood Entertainment
claims it had a deal with Jackson to put on a Jackson family concert and alleges the deal was broken when Jackson committed to the London series of concerts. In the $300,000,000 federal lawsuit filed in October 2009, AllGood was asking for profits from "This Is It" along with revenues from the Sony catalog.

AllGood claims Michael Jackson and his agent, Frank Dileo, "secretly teamed up with AEG [Live] to produce a concert or series of concerts in London."

AllGood Entertainment filed the claim Friday.

UPDATE: Howard Weitzman, lawyer for the Michael Jackson estate, tells TMZ, "AllGood's creditor's claim and its underlying lawsuit are frivolous and wholly without merit."