// Klagen - Sammelthread //

Zitat von badwoman

erledischt

Super

Zitat von TLC

Precient vs. Michael Jackson Publishing Trust (MJPT), June 18th 2007 - Trial....

Na das sind doch mal konkrete und sehr ermutigende Infos. Go MJ!
Wenn MJ's Anwälte nicht völlige Idioten sind, gewinnt er diesen Fall auf jeden Fall.

Zitat von Been Told

Na das sind doch mal konkrete und sehr ermutigende Infos. Go MJ!

Vor allem wenn man liest, dass er anscheinend unter besagte Verträge gar nicht selbst unterschrieben hat.

Also wenn diese "Informationen" so stimmen sollten, ist die Ausgangslage für mich klar und absolut eindeutig und macht mich zudem zuversichtlicher was diese Klage angeht.

Boah!!! Ich habe das jetzt erst gelesen, die ganze Sache mit Randy... leck mich fett, was geht denn da ab?? Wie egoistisch kann man seinem eigenen Bruder gegenüber sein? Hat er gar kein schlechtes Gewissen, seinem Bruder, der eh schon am Boden liegt, in den Arsch zu treten. Ich traue der Familie so einiges zu - aber DAS... boah, das ist echt zu hoch für mich. Und da wundern die sich alle, dass Mike kein Album mit denen machen will und auch keine Tour und so??? Mich wundert gar nichts mehr.

Mich macht sowas traurig und wütend. Die sehen doch, dass Michael alles andere als ein leichtes Leben hat und dann machen die noch solche Sachen mit ihm... Ist das mies, ich kann mich gar nicht beruhigen...:grr

Ich hoffe nur, dass Katherine auf Michaels Seite steht und nicht versucht, Michael umzustimmen, damit er die miesen Geschäfte von Randy mit seinem eigenen Geld unterstützt. Sollte jemals irgendetwas in dieser Richtung rauskommen, habe ich mich das erste mal in meinem Leben so richtig in einem Menschen getäuscht...:sad

Weitere Informationen:

Zitat

QUOTE(MJOutsider @ Jun 17 2007, 01:28 PM)
I don't believe Randy started off trying to hurt Michael. From everything I seen and heard he had good intentions, belived bad advice and believed people who knew from the getgo they didn't have good intentions towards Michael. Most people in that situation would not be as strong as Michael was, there was alot people who didn't think he could withstand it, so they made their moves.

Zitat

I absolutely agree with this.
Many of you know that Randy approached my company to help with MJJsource, and I can say in the very beginning, Randy had good intentions. Michael was active with and wanted that site. But as time went on, something went terribly wrong. People were fired unceremoniously and enemies were made. Lies were told, money was swindled and games were played and it turned out to be a very unfortunate situation. How Mark Geragos was fired (and he did NOTHING WRONG) was plain inconsiderate. Geraldo was faxed Geragos' termination letter FIRST before Geragos even knew he was terminated. Later that Sunday afternoon, Geragos received the boot after it was televised & after Linda Deutsch reported it. Sure, TMez was brought in and that's a wonderful thing ... but to treat someone like that is WRONG on so many levels. Many more incidents would follow (like Raymone being fired by Randy & TMez) and I witnessed them first hand. I'm sure time will reveal the truth of the matter.
Whatever happens, I hope Michael is victorious and with lessons learned, may the mistakes of the past never happen again.

Source: MsTenda, MJJF

News-Flashback:
(Zur Erinnerung)

Zitat

Jackson's freedom isn't free

Posted 6/13/2005 10:58 PM
Updated 6/14/2005 12:07 PM
By Edna Gundersen, USA TODAY

In the '90s, when Jackson's shrinking paychecks no longer covered expenses, he began borrowing against his prized music publishing catalogs. The Sony/ATV catalog, worth perhaps $1 billion or more, is jointly owned by Jackson and Sony. Jackson bought ATV, which contains 251 Beatles tunes, in 1985 for $47.5 million and got $150 million in the merger with Sony's publishing in 1995.

It was a canny investment, but by 2000, Jackson owed $270 million in Bank of America loans backed by Sony/ATV, his Mijac music publishing and Neverland.

While on trial in April, Jackson was late with part of a $3 million quarterly interest payment, risking default. Supporters, including grocery magnate Ron Burkle and the Rev. Jesse Jackson, successfully petitioned Bank of America for a grace period and arranged a bridge loan.

"Michael came up with $2.6 million that week, on April 1," the Rev. Jackson says. "He was $400,000 short. He came up with that the next day. The bank was inclined to not accept it because it was a day late. If I had not intervened to stop them from foreclosing on the second or third, it would have triggered a complete collapse. It was like using a technicality to put him out of business."

He says the singer, whose assets are two-thirds greater than his debts, is not sinking into poverty, explaining that the crisis erupted only because of a gap between the arrival of royalty payments and the loan deadline.

He sees validity in Jackson's theory that parties eager to obtain Sony/ATV pressed the bank to lean on the singer. "Who was forcing the bank's hand and what did they stand to gain?" he wonders. "That must come under scrutiny. I think the bank sold the loan rather than face the heat."

After the April squeeze, Bank of America sold the loans to Fortress Investment Group, a New York equity firm that invests in distressed debt. With Sony/ATV, Mijac and Neverland as collateral against the loans, Jackson risks losing his most beloved possessions if he fails to meet future payments. Industry observers believe unloading part of his publishing could end the cash crunch and push him in the black.

"While Michael has this tremendous amount of debt secured by his assets, he still has a fair amount of equity in those assets," Pulley says. "He does not want to sell his publishing, so his alternative is to restructure those debts. If he's able to restructure under favorable terms, where the revenues of those assets can service the interest payments, he can handle it. If he can't restructure, he might have to sell a percentage of his publishing.

"He has to curb expenses. One obvious place to do that is Neverland. While it may be something he treasures, it's not as valuable as his publishing holdings."

The talk that Jackson is nearly destitute is ludicrous, Pulley says. However, the alarm surrounding his late loan payment was real.

"The guy's had a difficult time making those interest payments," he says. "It doesn't mean instant calamity. However, he is on the precipice of having to sell assets he doesn't want to sell.

"When you hear the (Sony/ATV catalog) valued at $1 billion, that's relatively conservative. Those businesses are extremely valuable, and they grow in value over time."

Jackson's reluctance to sell is understandable, says music consultant Tom Vickers.

"Of all musical assets, it's the one that continues to go up in value as new revenue streams appear, and as technology moves forward, we'll see new avenues for potential income. The conventional wisdom is: Hold onto your publishing, no matter what. And of all the catalogs in music, the Beatles' is considered the crown jewel."

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http://www.usatoday.com/life/people/2005-0...-finances_x.htm

Zitat

Reverend lends hand with star's finances - Jesse Jackson says he helped renegotiate loan

June 9, 2005
By SCOTT HADLY
NEWS-PRESS SENIOR WRITER

The Rev. Jesse Jackson is more than a friend and spiritual adviser to Michael Jackson -- he's one of a team of people trying to save the pop star from financial ruin.

The Rev. Jackson, who appeared earlier this week in Santa Maria as jurors deliberate in Mr. Jackson's child molestation case, said Wednesday that he helped the entertainer renegotiate the terms of a $270 million loan from Bank of America.

The bank came close to foreclosing on that loan in April after Mr. Jackson was a day late in making a $3 million quarterly payment, the Rev. Jackson said. The close call only added fuel to speculation that the entertainer's finances were a "time bomb waiting to explode," as was alleged in a civil suit against the star.

During the trial, prosecutors made much of the pop star's finances, saying that his debts exceeded his assets by several hundred million dollars and that he was spending in excess of $30 million more each year than he was taking in. Mr. Jackson spent like a billionaire with a millionaire's income, said Senior Deputy District Attorney Gordon Auchincloss.

According to prosecutors, that in part was the motive for a conspiracy. Prosecutors say Mr. Jackson and his advisers were so harmed by the public relations disaster of the TV documentary "Living with Michael Jackson," in which the star says he shared his bed with children, that they conspired to hold his young accuser and his family against their will and manipulate them to make positive statements about Mr. Jackson. His defense attorneys called the conspiracy charge ridiculous.

Mr. Jackson has pleaded not guilty to all charges.

The Rev. Jackson said the entertainer's real problem is cash flow, which has been compounded by the court case. Much as Mr. Jackson's defense attorneys have said during the trial, the Rev. Jackson said the singer's financial empire is not on the verge of collapse.

"You have someone whose assets are two-thirds greater than his debts," the reverend said.

Mr. Jackson's net worth is much in dispute.

He owns publishing rights not just to his own songs, but a half share in the Sony/ATV catalog, which consists of thousands of songs, including 251 by the Beatles. Some estimates peg the value of that catalog at about $1 billion.

In court, his defense attorney, Thomas Mesereau, estimated Mr. Jackson's net worth at $4 billion to $5 billion, adding in the value of his 2,600-acre Neverland Valley Ranch at between $50 million and $100 million. But others believe the entertainer's net worth is a fraction of that.

John Duross O'Bryan, an expert witness for the prosecution, said Mr. Jackson's debts exceeded his assets by about $285 million. He testified that the debts amounted to about $415 million and the assets amounted to only about $130 million.

But on Wednesday, the Rev. Jackson gave a much different financial assessment. He said the singer's cash-flow issues stem from the current criminal case, which has prevented him from performing or recording.

One of the entertainer's problems has simply been the timing of his loan payments, the Rev. Jackson said. He said the rhythm of when he receives royalties does not mesh with when his loan payments are due.

Earlier this year, the reverend worked on Mr. Jackson's behalf by meeting with Ken Lewis, the CEO of the bank. The Rev. Jackson said that at one point, Bank of America was going to default on the loan after Mr. Jackson was a day late on a payment. His quarterly interest payments on the loans were about $3 million, and Mr. Jackson was $400,000 short in April but came in the next day with the money. But at that point the bank didn't want to accept the late payment.

The Rev. Jackson said the decision just didn't make sense when one considers Mr. Jackson's assets. He said he didn't believe that officials handling the loan were working in the best interest of Mr. Jackson or the bank.

"It was really unnecessary for any kind of a foreclosure," the Rev. Jackson said. "But if the foreclosure had taken place, it would have had an impact on Michael's catalog. His whole financial empire would come crumbling down."

In May, Bank of America sold the loan to Fortress Investment Group, a company that specializes in distressed loans. The Rev. Jackson said the terms of the new loan are much more manageable. At the time of the sale, Mr. Jackson's spokeswoman, Raymone Bain, said the arrangement gave the star much more financial flexibility.

e-mail: shadly@newspress.com

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http://www.newspress.com/mjacksonupdate/pu...dlendshand.html

Zitat

PAGE ONE: Business Thriller: Michael Jackson's Other Battle: Staving Off Financial Disaster

Jesse Jackson Makes a Pitch
By ETHAN SMITH and KATE KELLY
Staff Reporters of THE WALL STREET JOURNAL
June 8, 2005; Page A1

Even in the depressed music industry, catalogs are prized for the steady revenue they generate from public performances and other licensing fees. Sony/ATV is particularly valuable because it controls famous Beatles compositions such as "Yesterday" and "Hey Jude" and is valued by people who have recently looked at the company at more than $1 billion. Mr. Jackson could resolve his debt crisis by shedding all or part of his stake.

This spring, that's exactly what some of his closest advisers were urging. The group included longtime associates such as entertainment attorney John G. Branca, veteran music-industry executive Charles A. Koppelman and Miami attorney Alvin I. Malnik. A long list of buyers has expressed interest in the business, according to several people involved with the matter. Sony itself has had its eye on Mr. Jackson's stake for years and ex-Beatle Paul McCartney has closely followed the company's history, according to a person close to him.

Even after the sale to Fortress, which forestalled a bigger financial crisis, these advisers continued to urge the singer to sell. They are worried about an estimated $10 million legal tab in the criminal case and a possible bankruptcy filing.

To his advisers, Mr. Jackson has expressed an emotional tie to the Sony/ATV asset -- he bought it partly out of love for the Beatles -- and has resisted that advice. Instead, he turned to a longtime friend, Mr. Burkle. As managing partner of closely held Yucaipa Cos. LLC, a private investment firm, Mr. Burkle has little music-industry experience.

According to Jesse Jackson, who has allied himself with Mr. Burkle, the billionaire adviser agreed to analyze the situation. Mr. Burkle has told the singer the debt crunch could be resolved in a way that would avoid a sale, according to a person close to Mr. Burkle.

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http://www.mjj2005.com/kopboard/index.php?showtopic=27500

Ich denke auch nicht das bei den jackson Freude ,Friede, Eierkuchen ist,habe mal vor einiger zeit gelesen das Jermaine und Randy eine langjährige Fehde haben da Jermaine mal Randy die Frau ausgespannt hat.als dann Jermaine Michael in die radikale Organisation Nation of Islam gebracht hat, hat Randy alles daran gesetzt das Michael sich von dieser Organisation trennt,so mußte der Führer der Organisation lois ....auf Michaels Geldmittel verzichten.Diese Organisation hatte Michael Bodygards Gestellt und Michael in Geschäftlichen wie auch in Juristischen Angelegenheiten beraten.Jedenfalls muß Michael ja auf Randy gehört haben.Randy und Jermaine sollen verfeindet sein. Wißt ihr da auch noch was?

Linda Deutsch on Michael Jackson (from Michael Jackson Insider), Talks briefly about Michael's call to her after the trial:

Recently, MichaelJacksonInsider.com (with Pearl Jr.) posted a short video interview with veteran AP reporter Linda Deutsch, from when Deutsch was honored with a lifetime achievement award for journalism. Deutsch talks briefly about her experience in journalism and how she tries to be fair and balanced in what she reports, and also about the time that Michael Jackson called her to thank her for being fair during the trial. I have transcribed the portion where Linda Deutsch talks about Michael's call and how she hopes to have a full interview with him someday.

---
Pearl Jr: Now Linda, Michael talked to you. You got one of the first, well the first interview with Michael after the trial. Tell me how that came about?

Deutsch: He did call me. He called me after the trial, it was quite amazing. He called to tell me that he was glad that I had been fair to him during the trial, which is what I try to do with all defendants. We had a very brief conversation, but a very friendly conversation. He said that it was the worst thing that he had ever been through, was that trial. And I'm still hoping against hope that he will sit down with me for a real interview one of these days. Because, the only real contact we had during that period was every day after court he would come out, and I would ask a question. He would sometimes answer, sometimes not. And I did have a chance to go up to Neverland a couple of times, but we've never really sat down and talked and I feel that it's probably time for that.

Source: TSCM, MJJF

Money talks, Jackson to Jackson

Rev. Jesse Jackson said Sunday that he has counseled Michael Jackson -- whom he has known since the early 1970s, during the days of the Jackson 5 -- financially and spiritually since the start of the singer's 2005 child molestation trial.

"There were all these decisions that he had to make," Jesse Jackson told the Tribune. "I was simply one voice that had some access to him. I do not credit myself with having the determining voice."

Jesse Jackson said he met with bankers on the performer's behalf, told him to reduce spending and suggested charging for admission to Neverland Ranch. When some people urged the singer to rid himself of debt by selling off his music publishing holdings, Jesse Jackson said that he urged him not to do so.

He said the singer's business deal with Sony that owns and administers copyrights of thousands of songs is one of Jackson's most valuable long-term assets.

"[I'll do] whatever I can do to make sure that the Sony coalition continues, I think it's mutually beneficial," Jesse Jackson said. "Its success has worldwide ramifications."

A Santa Maria, Calif., jury acquitted Michael Jackson of child molestation in June 2005.

Citing court transcripts, the New York Daily News reported Sunday that the singer said he turned to Jesse Jackson and billionaire Ron Burkle for guidance after suspecting other advisers were exploiting him.

"Michael's resources are substantial," Jesse Jackson said. "Wherever there is money, there are predators and greed."

Jesse Jackson said he referred the singer to Burkle.

"Burkle was capable, credible and honest with no need to exploit Michael," he said.

Jesse Jackson added that Michael Jackson is "business-focused" these days and will soon come out with a new "product," but he declined to elaborate.

http://www.chicagotribune.com/news/nationw...nationworld-hed

-> Has the trial started yet?

Zitat

Started at 10am... probably just jury selection today...

Source: aveeno1, KOP-Board

na legga...ich hab mich immer gefragt, wie Fortress überhaupt auf die Idee gekommen ist Michael Jackson´s Schulden bei der Bank of America aufzukaufen. Die einzige MÖglichkeit wäre gewesen, die Bank geht damit hausieren..das haben sie nicht gemacht. Fortress hat sich das selbständig geschnappt, weil sie von Randy Oberidiot Jackson darauf gestoßen wurden. Oh man der Typ regt mich langsam echt auf.

dich auch? was mich erst recht ärgert, ist die art, wie er nach aussen auf 'fürsorgichen bruder' macht -
und michael mehr in den arsch tritt dabei,
als es 20 songs von jermaine je hätten tun können.
der harmlose, stille bruder...jaja.

Ich weiß nicht, was ich sagen soll! Bin einfach platt!!!!!
Sollte das alles so stimmen, finde ich wirklich keine Worte dafür!

Prescient v. MJ Lawsuit Settled!
Thanks to Aveeno on MJJF:


Quote:
BREAKING NEWS: THE CASE HAS BEEN SETTLED. CONFIDENTIAL SETTLEMENT BUT IT SEEMS TO ME PRESCIENT CAVED FINALLY.

[B]FIRST STIPULATION: MEMO ENDORSEMENT on Stipulation of Voluntary Dismisssal. ENDORSEMENT: VACATED. (Signed by Judge P. Kevin Castel on 6/18/2007) (kkc) (Entered: 06/18/2007)





UPDATED ORDER(FINAL):
STIPULATION OF VOLUNTARY DISMISSAL; the breach of contract claim alleged in this litigatuion is dismissed with prejudice, without costs or attorneys' fees to any party. The fraudulent conveyance claim is dismissed without prejudice subject to the Court's retention of jurisdiction for the purpose of enforcing the Settlement Agreement entered into by the parties. (Signed by Judge P. Kevin Castel on 6/18/2007) (kkc) (Entered: 06/18/2007)





ALL CLAIMS DISMISSED. THE SETTLEMENT IS CONFIDENTIAL. TELLS ME PRESCIENT ACCEPTS A VERY VERY SMALL OFFER OF MONEY. THEY ACCEPTED BECAUSE THEY KNEW THEY WERE GOING TO LOOSE AND LOOSE BIG.

Thanks to CherubimII on MJJF:

Quote:
AP
Michael Jackson Lawsuit Settled
Monday June 18, 1:54 pm ET
Michael Jackson Suit Settled on Verge of NYC Trial AP-Finance News

NEW YORK (AP) -- Lawyers for Michael Jackson settled a lawsuit Monday brought by a New Jersey finance company that claimed Jackson cheated it out of $48 million.
The lawsuit by Prescient Acquisition, a Hackensack, N.J., firm, was settled just as jury selection was set to begin in U.S. District Court in Manhattan.

Terms of the settlement were not released.

Steven Altman, a lawyer for businessman Darien Dash, who owns Prescient, said Dash was owed the money for helping Jackson refinance a $272 million bank loan and secure $573 million in financing to buy Sony's half of the Beatles' song catalog that Sony co-owned with Jackson.

Jackson had claimed he never heard of Dash an did not remember signing an agreement.




(wendy2004/MJNO)

:beat :beat :beat :beat :ugly1 :horror :wau :umfall :hurra :saufen :voll :dance :party :walk :beat :nana :nane :ugly2 :ugly1 :horror :wau :umfall :hurra :saufen :voll :dance :party :walk :beat :nana :nane :ugly2 :ugly1 :horror :wau :umfall :hurra :saufen :voll :dance :party :walk :beat :nana :nane :ugly2 :ugly1 :horror :wau :umfall

Zitat

ALL CLAIMS DISMISSED. THE SETTLEMENT IS CONFIDENTIAL. TELLS ME PRESCIENT ACCEPTS A VERY VERY SMALL OFFER OF MONEY. THEY ACCEPTED BECAUSE THEY KNEW THEY WERE GOING TO LOOSE AND LOOSE BIG.

DAS is soooooo geil
ich freu mich so sehr, dass mike diese kacke los is

btw...
dass das nun so schnell ging, noch ehe die verhandlung anfängt,
sagt mir, dass es da jemand auch eilig hatte, das zu beenden...
und warum will man sowas schnell vom tisch haben?
weil man sich wichtigeren dingen zuwenden muss!

ich bin sicher, dass mike in der endphase seiner arbeit für die neue scheibe is....:dance

ja also ich hätt auch an allem sonst gezweifelt, wie blöd muss man denn sein sowas für voll zu nehmen also selbst amis lol

ich bin soooo glücklich :party:party

YEAHHHH!!!!!!!!!!!! :beat :V :cheers

Michael ist nunmal eine ehrliche Haut!!!!!