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Jacksons v AEG Timeline Top Stories
Jacko estate attorneys want to be paid
By CMU Editorial | Published on Wednesday 16 December 2009
Legal types involved in the estate of the late Michael Jackson are asking for January to be named pay day.
The two men administering the estate, attorney John Branca and music exec John McClain, have asked the LA courts for a fee of 5% of any monies that the estate has generated since the king of pop’s demise back in June. It’s thought the estate may have brought in $100 million, thanks in a big part to the deal behind the movie ‘This Is It’, which would mean $5 million going to the two men.
The money would be paid to Branca’s legal firm. Branca says he himself wouldn’t take a direct fee, but the money would be used to pay for the staff resource he has been utilising while managing the estate. Though some would presumably cover his salary for the latter half of the year. It’s not clear if Branca’s company would then pay McClain a straight fee for his time.
Other lawyers who have been working on matters relating to Jacko’s affairs, unpaid so far, are also pushing for the estate to write them some cheques. There is certainly plenty of cash slushing around the Jackson estate’s bank account, thanks in part to the deals Branca and McLain have negotiated, but then there is also a lot of debt to manage, a number of outstanding lawsuits, many pre-dating Jackson’s death, and the commitments the estate has made to supporting the late singer’s children and their guardian, his mother.
Judge Mitchell Beckloff has set a court hearing for 4 Jan to discuss the cash claims.
