Michael Jackson has settled a lawsuit brought by Prescient Acquisition, of Hackensack, that claimed that Jackson owed them $48M.
The lawsuit was settled yesterday, just as jury selection was to begin in U.S. District Court in Manhattan. The terms of the settlement have not been released.
Steven Altman, a lawyer for Prescient owner Darien Dash, said that Dash was owed the money for helping Jackson refinance a $272M bank loan and secure $573M in financing to buy Sony's half of the Beatles' song catalog that Sony co-owned with Jackson.
Altman is quoted as saying:
"We're very pleased with the settlement, although the terms of it we've agreed to keep confidential at Mr. Jackson's request."
Jackson had claimed that he had never heard of Dash.
Jackson's lawyer, L. Londell McMillan, said that the settlement:
"presents a win-win for everybody."
Tuesday, June 19, 2007
Monday, June 18, 2007
Jackson Claims He Was Robbed
Michael Jackson claims that he was saved from financial ruin by the Rev. Jesse Jackson and billionaire Ron Burkle, during his child molestation trial in California.
The revelations come in a sworn deposition made by Jackson for a federal lawsuit set for trial this week.
Jackson believes that disloyal advisers stole from him while he was busy fighting criminal charges, thus causing his finances to teeter on the edge of the abyss.
Jackson claims that whilst his trial was going on, he was pressured to sign off on a multimillion-dollar financing deal with Don Stabler, one of his brother Randy's associates.
He said the Rev. Jackson and Burkle coached him on how to get through the issue with Stabler, adding that Burkle kept calling and telling him to not sign anything.
Jackson provided this information during discussions with lawyers for the Hackensack finance company, which is suing him in federal court in Manhattan.
Businessman Darien Dash claims Jackson owes his company, Prescient Acquisition, $48M for helping arrange financing to buy out Sony's half of the Beatles' song catalogue.
Jackson claims that he has never heard of Dash, and doesn't remember signing an agreement.
Either there is an agreement, in which case Dash will produce it in court, or there isn't.
The revelations come in a sworn deposition made by Jackson for a federal lawsuit set for trial this week.
Jackson believes that disloyal advisers stole from him while he was busy fighting criminal charges, thus causing his finances to teeter on the edge of the abyss.
Jackson claims that whilst his trial was going on, he was pressured to sign off on a multimillion-dollar financing deal with Don Stabler, one of his brother Randy's associates.
He said the Rev. Jackson and Burkle coached him on how to get through the issue with Stabler, adding that Burkle kept calling and telling him to not sign anything.
Jackson provided this information during discussions with lawyers for the Hackensack finance company, which is suing him in federal court in Manhattan.
Businessman Darien Dash claims Jackson owes his company, Prescient Acquisition, $48M for helping arrange financing to buy out Sony's half of the Beatles' song catalogue.
Jackson claims that he has never heard of Dash, and doesn't remember signing an agreement.
Either there is an agreement, in which case Dash will produce it in court, or there isn't.
Subscribe to:
Posts (Atom)