Michael Jackson faces seizure of assets

Discussion in 'Celebrity and Entertainment News' started by Linda7NJ, Dec 20, 2005.

  1. Linda7NJ

    Linda7NJ Active Member

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    LOS ANGELES - Michael Jackson's advisers scrambled to cut a deal Monday to halt a $272 million foreclosure that would strip the pop star of his share of the Sony Beatles music catalog and, possibly, his cherished Neverland Ranch.

    As the New York-based Fortress Investments Group prepared to seize the pop star's assets Tuesday to cover his unpaid debt, his advisers burned up phone lines pleading for a six-month extension, sources said.

    "There are discussions under way to stop the foreclosure. An extension is likely to be granted," said a source familiar with Jackson's business woes.

    The deal would involve "several" benefactors agreeing to make the monthly payments on Jackson's $272 million loan package at a 9.5 percent interest rate - which comes to more than $2 million a month.

    EDITED BY DP DUE TO COPYRIGHT INFRINGEMENT


    http://www.kansascity.com/mld/kansascity/news/nation/13447430.htm

    Everyone Pray he LOSES EVERYTHING!;)
     
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  3. luvahgirl

    luvahgirl Former Member

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    Gosh, what devastating news!:D
     
  4. DEPUTYDAWG

    DEPUTYDAWG Active Member

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    I, too, am just broken-hearted to hear this. NOT ;)

    What an idiot - so much excess all those years, and he never learned. :doh:
     
  5. azwriter

    azwriter Sister Mary Wanna

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    Poor Michael! Who is going to pay for his next new nose?
    Maybe they can hold a telethon. I'd pledge two cents.
     
  6. Marthatex

    Marthatex New Member

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    Lets see, if he sells the Beatles Catalogue and pays off Neverland, he still has $230 million to live on? Well, heck, I could live on that.
     
  7. deanws

    deanws Former Member

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    I agree DD! Look at all the wasted resources. A small country could have lived off that money for 50 years. But the loser wasted it in 25 years. God, he is soooo pathetic.:croc:
     
  8. DEPUTYDAWG

    DEPUTYDAWG Active Member

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    I'll find something else more worthy to pledge my two cents, haha! ;)

    But you're right, what if he gets a cold and needs a fixer-upper?! :bang:
     
  9. BrendaStar

    BrendaStar New Member

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    Poor Michael :boohoo: :boohoo: :boohoo:

    I also read that Debbie Rowe is suing him for kidnapping the children. I don't know how he can get by with starving the animals in his "zoo" at Netherland. Why hasn't someone called in the Animal Protective League on him???

    And the Prince of Bahrain is going to back him up on a record to benefit the victims of Katrina. Like the disaster was four months ago. It sounds like the Prince is an idiot too.
     
  10. Mabel

    Mabel Former Member

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    Wasn't Debbie recently awarded the right to visit with the kids? I seem to recall something about it having to be on MJ's terms and that she wasn't allowed to tell the kids she is their mother. What a louse he is, taking the kids out of the country now that she finally has the ability to spend time with them. I'd call him a hideous nasty piece of trash, but someone might accuse me of being jealous :doh:
     
  11. carnation

    carnation New Member

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    Does anyone else view MJ as a "kept" man of the prince or is it just me? Why that prince continues to let him sponge off him is beyond me.
     
  12. deanws

    deanws Former Member

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    LOL...I hear ya Mabel! :laugh: You know...with his looks and all. "Smacks of jealousy" LOL.....I know what you mean!:laugh:
     
  13. deanws

    deanws Former Member

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    Strange isn't it?
     
  14. carnation

    carnation New Member

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    Boy, I'll say! And what's also strange is that it appears (at least to me) that MJ feels a sense of entitlement to sponge. I don't think it bothers him in the least. Having spending money and continuing his lavish lifestyle is all that matters, I guess. We could call him Sponge Mikey, but that's really an insult to Sponge Bob.
     
  15. SewingDeb

    SewingDeb "Sorry, I'm not qualified to land the plane."

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    Every royal family needs a jester. :crazy:
     
  16. SewingDeb

    SewingDeb "Sorry, I'm not qualified to land the plane."

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    This is from the link Linda posted above:
    Jackson, who has been laying low in Dubai in the United Arab Emirates in recent weeks, has refused to speak to concerned family members who have reached out to him, sources said.
    "Michael doesn't take their calls. His brother Randy has put together a proposal to resolve the financial mess, but he can't get past the nanny," said a family source.
    Several frantic Jackson family members, worried about the singer's state of mind, were planning to head to Bahrain, where the pop star has been staying with that country's royal family since last summer, to stage an emergency "intervention." But they have put the plan on hold due to uncertainty about Jackson's whereabouts, a family source said.


    ----
    He won't even take calls from his family? Now that is wierd, even for MJ.
     
  17. BrendaStar

    BrendaStar New Member

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    Which brings to mind, what about his poor kids? What kind of life is that for them being holed up in Bahrain with a mentally ill father and no other family? A father who is forcing them to be expatriats?

    It's weird alright.
     
  18. SewingDeb

    SewingDeb "Sorry, I'm not qualified to land the plane."

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    Those kids are not having any kind of normal life. I'm sad for them.
     
  19. BrendaStar

    BrendaStar New Member

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    TMZ.com is a 24/7 on-demand entertainment news network on the Web powered by AOL and Telepictures Productions. Visitors can access the site at TMZ.com.
     
  20. kato

    kato New Member

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    WAAAAAAAAAAAAAAAAAAAAAAAAAA Cry me a friggin' river. Freak-a-zoid boy!
     
  21. Linda7NJ

    Linda7NJ Active Member

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    That witch...... Debbie Rowe is every bit as scary and unfit as Pedo Pan! That lying uterus renting bimbo!
     

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