All those rumours surrounding Michael Jackson's finances might come to a head today with reports that the Fortress Investment Group are about to begin proceedings to reclaim a loan reported to be in the region of $270 million.
Given that Jacko seems to be pretty damn broke (rumour has it Neverland's 100 employees weren't paid last week, and that there are no funds to buy food for the animals in the ranch's on site zoo), it seems increasingly likely that Fortress might make moves to seize Jacko's 50% share of the Sony/ATV publishing group, or the assets of the MiJac publishing company.
American columnist Roger Friedman is full of gossip relating to Jackson's broke-dom, and the effect the lack of cash is having on his Neverland ranch. He says: "I am told that the situation at Neverland is dire. While Jackson is in Bahrain with his kids and their nanny, some of the electricity at the ranch was recently shut off by Pacific Gas and Electric. Also, there are real fears now for the animals in Jackson's home zoo. Last week, the ranch was down to almost no food for the animals. At the last minute, sources say, a delivery was made, but it won't last long."
If Fortress does make moves on Jackson's Sony/ATV assets it is unclear if it would look to Sony to take over the loans in return for some or all of Jacko's share, or whether it will just seize the singer's equity and sell it off to the highest bidder.