Michael Jackson's Trials

Michael Jackson's Trials


The Ongoing Trials of The Late Michael Jackson

Monday, October 29, 2007

Jackson To Lose Neverland?

Reality may finally be catching up with Michael Jackson, as his Neverland ranch is now under serious threat of repossession.

He has 90 days to pay back a $23M loan plus interest, or he will lose Neverland and other property.

Jackson has reportedly defaulted on the $23M loan with Fortress Music Trust, which he was to have settled by October 12.

A notice of default was filed in Santa Barbara Country on October 22.

The value of Neverland is reported to be $17M. However, any sensible person buying it would undoubtedly have to spend a large amount of money removing the amusements and other assorted paraphernalia.

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