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Michael Jackson Was $500 Million in Debt When He Died, Court Docs Show
Michael Jackson had amassed more than $500 million in debt at the time of his death at age 50 in June 2009, new court documents reveal
“The Executors, with the assistance of their legal counsel, have continued to act promptly and decisively to identify and analyze the issues, marshal and control the assets, defend the Estate in the active litigation and aggressively protect and enforce the Estate’s trademarks and copyrights worldwide,” the filing argues, adding that Braca and McClain have renegotiated financial arrangements “to avoid the loss of any assets to the lenders and ultimately to satisfy the encumbrances that existed at the time of Michael’s death.” He died from an overdose of propofol administered by his personal physician, Conrad Murray, who was convicted on involuntary manslaughter charges in 2011 for his involvement in Jackson’s death. A source exclusively revealed in the latest issue of Us Weekly that Jackson’s three children are “the complete opposite” of celebrity kids who “let nepotism get to their heads.” The insider added that the three siblings are “best friends” who “stick together” whatever happens.
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