Michael Jackson Estate Files Response to Paris Jackson's Questioning of 'Premium Payouts': 'Well Deserved and Reasonable'

Michael Jackson Estate Files Response to Paris Jackson's Questioning of 'Premium Payouts': 'Well Deserved and Reasonable'New Foto - Michael Jackson Estate Files Response to Paris Jackson's Questioning of 'Premium Payouts': 'Well Deserved and Reasonable'

Pool Photographer/WireImage; Swan Gallet/WWD via Getty Michael Jackson's estate responded to Paris Jackson's court filing, questioning "premium payouts" made in 2018 for unrecorded attorney time The estate claimed that the attorneys were "instrumental and critical in assisting and supporting the Executors in achieving unprecedented results for the Estate," hence the payments A hearing is scheduled regarding the issue on Wednesday, July 16 Michael Jackson's estate has responded toParis Jackson's questioning of"premium payouts" made for unrecorded attorney timein 2018. According to court documents filed on July 15 and obtained by PEOPLE, the late singer's estate claim that the lawyers who received what his daughter Paris, 27, called "premium payouts" were compensated based on their "experience, negotiating skills, relationships, and knowledge of the entertainment and international music publishing and recording businesses." His estate claims that the attorneys "were instrumental and critical in assisting and supporting the Executors in achieving unprecedented results for the Estate, including without limitation, the more than$287 million return on the EMI investment." Sony bought Michael's estate's EMI share in 2018, during which the alleged six-month period, executors requested approval for $625,000 in payments to three law firms. Additionally, the attorneys "cannot be adequately measured or fairly compensated by an hourly rate fee payment." Alberto E. Rodriguez/Getty "It is not unusual and in fact is quite common, in the entertainment/music business for attorneys with the level of skills, experience, and relationships of Mr. Weitzman and Mr. Katz to receive compensation in addition to their hourly rate fee payment," the estate added in their response. Never miss a story — sign up forPEOPLE's free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer​​, from celebrity news to compelling human interest stories. The executors of the "Thriller" singer's estate said that the attorney's compensation was "well deserved and reasonable given the nature and difficulty of the tasks performed, the results achieved and the unprecedented benefit of the respective firms' services to the Estate." A hearing regarding the issue is expected to take place on Wednesday, July 15. On June 24, Paris had filed court documents, as she was "concerned" regarding the "practice of granting so-called 'premium payments' for unrecorded attorney time, much less paying one-hundred percent of any such extraordinary amounts." The executors requested approval in 2018 for $625,000 in payments to three law firms, which Paris referred to as "uncaptured time," lacking an explanation regarding "why counsel was incapable of recording unbilled time, or why such a failure should not preclude payment." The documents claim that two of the law firms involved had received the "premium payments" had violated the "Court's order allowing only partial payment of attorneys' fees until Court approval is obtained." The payments were "at least in part, to consist of lavish gratuities bestowed upon already well-compensated counsel," Paris's filing alleges. KMazur/WireImage Michael was over $500 million in debtat the time of his death and owed money to over 60 creditors, per court documents obtained by PEOPLE in June 2024. Before he died, he was planning acomeback, which included a residency at London's O2 Arena. Leading up to it, however, Michael was falling further and further into debt each year.The Los Angeles Timesreported that he was accruing $30 million in debt annually. His estate became responsible for the money Michael owed after his death. Paris, along with her brothers Prince and Bigi, arebeneficiaries of Michael's estate. Read the original article onPeople

 

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