The line forms at the rear. And it’s probably going to be a very long line.
In 1990, a Japanese newspaper, The Segye Times, sued the Jackson family for $5.5 million claiming the paper had paid the Jacksons that amount for a concert series that never took place. A trial was held in 1992 but the only Jacksons to show up were Katherine, Joe and Jermaine and a judgment was placed against them for $4 million. The paper is now asking for approximately $7.9 million from the Michael Jackson’s estate. This amount has nearly doubled from the original $4 million because of accrued interest.
In March of 1999 Katherine and Joe Jackson filed for bankruptcy claiming assets between $100,000 and $500,000 and debt between $10-$50 million. Debts listed included approximately $35,00 on a Mercedes, $60,000 on a Land Rover, $36,000 on a Land Rover Discovery, $33,000 to the State of California for personal income tax, $118,000 to the IRS, $18 million on one lawsuit judgment and $4 million on another, plus legal fees to several attorneys.
Katherine Jackson has been petitioning the court to allow her to have more control over Michael Jackson’s estate. Sounds like that might not be a wise decision for the court to make. Of course, by the time the end of the creditor line appears there may not be a lot of money left to control
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