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Jackson in Foreclosure, Again; Just sell the rights to Paul, already!
Topic Started: Aug 10 2006, 01:31 PM (78 Views)
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Jackson in Foreclosure, Again

Michael Jackson doesn’t like to pay his bills, that’s for sure.

For the second or third time this year — even his noteholders aren’t sure — Jackson has received a notice of pending foreclosure for the home where his parents live in Encino, Calif.

The estate, worth about $7 million in the current real-estate market, is known as Hayvenhurst because of its address. At least on one other occasion this year, Michael simply missed payments on the $2 million mortgage.

The last time this happened, as this column reported, Jackson’s sister Janet ponied up the required dough not only for the back installments but also for fees and back pay due employees at Neverland, courtesy of a state order.

This time, according to the group from Palos Verdes, Calif. that bought Jackson’s note earlier this year, the pop star put his parents’ abode in jeopardy by not making the required monthly payments. The group responded by issuing the foreclosure notice, although it is unlikely they would ever actually go through with an eviction and auction.
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maccascruff
Sing the Changes
Doesn't Sony have a larger share of the Beatles catalog now than they used to after some restructuring after the legal fees he had to pay? I do wish Paul could get back the catalog.
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beatlechick
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In Paul's Arms!
maccascruff
Aug 10 2006, 07:16 AM
Doesn't Sony have a larger share of the Beatles catalog now than they used to after some restructuring after the legal fees he had to pay? I do wish Paul could get back the catalog.

I think Sony owns what Michael had but Michael has a controlling interest on Sony's board of directors so in a sense he still has say on the catalogue. Paul is due to get back the catalogue in just a few years anyway.
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King_Kameamea
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beatlechick
Aug 11 2006, 01:20 AM
maccascruff
Aug 10 2006, 07:16 AM
Doesn't Sony have a larger share of the Beatles catalog now than they used to after some restructuring after the legal fees he had to pay?  I do wish Paul could get back the catalog.

I think Sony owns what Michael had but Michael has a controlling interest on Sony's board of directors so in a sense he still has say on the catalogue. Paul is due to get back the catalogue in just a few years anyway.

How do you figure he's due to get the catalogue back? He doesn't own it.
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beatlechick
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In Paul's Arms!
King_Kameamea
Aug 13 2006, 08:01 AM
beatlechick
Aug 11 2006, 01:20 AM
maccascruff
Aug 10 2006, 07:16 AM
Doesn't Sony have a larger share of the Beatles catalog now than they used to after some restructuring after the legal fees he had to pay?  I do wish Paul could get back the catalog.

I think Sony owns what Michael had but Michael has a controlling interest on Sony's board of directors so in a sense he still has say on the catalogue. Paul is due to get back the catalogue in just a few years anyway.

How do you figure he's due to get the catalogue back? He doesn't own it.

Paul, himself, said that it will automatically revert back to him in a few years from now. Which is why he didn't fight Sony taking it over a couple of years back. I believe that this was somewhere near the Driving Rain tour.
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