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!
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5 comments:
Hi,
Legal documents from New York.
Leslie
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?
Terrible that his legacy seems to be a debt ridden man, such a shame
Hi,
Yes, that loan was the one they negoiated now.
And yes, both catalogs are in safe.
Leslie
Thank You,
techlilinu
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