10/01/2010

Sony/ATV Debt Has Been Renegoiated!

The MJ Estate deals with two major debts, the first one has been renegoiated late last year and will be paid off late next year.

The other debt that MJ took against his 50% stake in the Sony/ATV Music Publishing LLC has been just renegoiated! According to the documents dated for September 15, 2010 Wells Fargo Bank will handle the debts in a complicated agreement between the two parties and various Sony entities.

These debts will be paid off no later than 2015!

7 comments:

skeptikos said...

Hi!
I've shared this info through MJ's fans blogs and they all want to know your sources, please.
Thanks in advance.

LeslieMJHu said...

Hi,

Legal documents from New York.

Leslie

skeptikos said...

Thks for your reply.

techlilinu said...

Hi Leslie:

Was the debt that was renegotiated this year the $300 million dollar Barclay Loan? Are Michael's MiJack and Sony/ATV catalogues safe now?

DAVID said...

Terrible that his legacy seems to be a debt ridden man, such a shame

LeslieMJHu said...

Hi,

Yes, that loan was the one they negoiated now.

And yes, both catalogs are in safe.

Leslie

techlilinu said...

Thank You,

techlilinu