Michael Jackson's business manager wants access to estate's financial books
Michael Jackson's former business manager filed a petition in the courts seeking a more detailed financial records from the pop star's estate. Jackson's manager argues that sealing the documents could possibly prevent him as well as other creditors from being paid by Michael Jackson's estate.
Tohme Tohme, Michael Jackson's former business manager, claims he is entitled to at least $2.3 million from Jackson's estate. Tohme, through his lawyers, filed a a petition with the courts when his lawyers argued that Tohme as well as other creditors, should be given access to uncensored copies of financial records filed by Michael Jackson's estate administrators, on the singer's finances after Jackson's death.
Tohme's petition sought access to information on revenue, expense and profit that are not otherwise publicly available. Michael Jackson's estate attorney Howard Weitzman is yet to see Tohme's petition, refusing to comment on the matter until he does.
The motion from Tohme and other creditors does not come as a surprise with the news Michael Jackson's estate posting proftits. Even Katherine Jackson, the singer's mother, had already petitioned for an increase in her monthly allowance.
After all, executors John Branca and John McClain had done a good job in improving the finances of the pop star's estate. The executors restructured all of his debts and got creditors to significantly lower their interest rates and succeeded in generating revenue.
"This Is It" grossed $260,000,000, the most lucrative documentary in history. The album "This Is It" sold 5 million copies, the 3rd biggest album in 2009. The executors also made other deals for the pop star's estate: (1) republication of the "Moonwalk" book; (2) merchandising agreements; (3) distribution of a coffee table book on the life of Michael Jackson; and, (3) renegotiated Michael Jackson's royalty agreements with record label.