Michael Jackson Sued Over Bailout Loan

10/2/2010 9:00 AM PDT

Michael Jackson Sued Over Bailout Loan

When most people get a debt consolidation loan, it's usually for about $20,000 -- but Michael Jackson's was for about $300 million ... and now his estate is being sued because of it.

The lawsuit is courtesy of a financial consulting company that claims it helped Jackson secure the financing back in 2005 to cover his massive debts, this according to the NY Daily News.

In a lawsuit filed in Manhattan Federal Court on Friday, a company in Bahrain claims it is owed more than $1 million for helping Jackson snag the dough.

Jackson moved to Bahrain after his child molestation trial in 2005 facing deep financial trouble.