MJ’s estate sued by finance firm
The finance firm says Jackson moonwalked away from 1.2 million dollars in finance fees he racked up after beating child-molestation charges in 2005.entertainment Updated: Oct 02, 2010 17:48 IST
The finance firm says Jackson moonwalked away from 1.2 million dollars in finance fees he racked up after beating child-molestation charges in 2005.
AQ Consulting helped the late King of Pop refinance a 300 million dollars mountain of debt and also got him another 20 million dollars "to clear additional liabilities," court papers say.
The firm- located in the Persian Gulf kingdom where the Gloved One briefly fled after his sensational acquittal - says it was entitled to a 1 percent fee, but accepted partial payment of just 2 million dollars "to facilitate the closing."
"The plaintiff has demanded that Mr. Jackson honor his commitment to remit the balance due, but Mr. Jackson failed and consistently refused to pay plaintiff the amount it is still owed," the New York Post quoted the suit as saying.
The Manhattan federal court filing notes that Jacko auctioned off his personal treasures shortly before dying of a drug overdose last year, but "none of the proceeds earned were used to repay AQ."
The suit, which charges breach of contract and unjust enrichment, seeks 1.2 million dollars in damages, plus interest, from the administrators of Jackson''s estate, lawyer John Branca and producer John McClain.
Neither Branca nor McClain immediately returned requests for comment.
First Published: Oct 02, 2010 15:33 IST