By Jeff Gottlieb
January 15, 2014, 4:55 p.m.
Michael Jackson’s estate and Lloyd’s of London have settled their lawsuit in which the insurer claimed it shouldn't have to pay $17.5 million on a tour cancellation policy after the singer died in June 2009.
Jackson’s estate countersued for breach of contract. Terms of the settlement are secret.
“The estate, and, I’m sure Lloyd’s, are glad the matter is resolved,” said Howard Weitzman, an attorney for the Jackson side.
...
Jackson died of an overdose of the anesthetic propofol administered at his home by Dr. Conrad Murray, as he was about to embark on a comeback series of concerts in London.
The singer’s mother and children sued concert promoter and producer AEG Live, saying the company had negligently hired and supervised Murray.
Following a five-month trial, a Superior Court jury found AEG Live not liable in Jackson’s death.
Testimony in the case showed that Jackson’s estate repaid AEG the advance of more than $30 million the company gave Jackson during rehearsals.
...
Paul Schrieffer, the attorney for Lloyd's, could not be reached for comment.
Source: http://www.latimes.com/local/lanow/la-me-ln-michael-jackson-tour-settle-20140115,0,1846521.story#ixzz2qzIN8Q5S
January 15, 2014, 4:55 p.m.
Michael Jackson’s estate and Lloyd’s of London have settled their lawsuit in which the insurer claimed it shouldn't have to pay $17.5 million on a tour cancellation policy after the singer died in June 2009.
Jackson’s estate countersued for breach of contract. Terms of the settlement are secret.
“The estate, and, I’m sure Lloyd’s, are glad the matter is resolved,” said Howard Weitzman, an attorney for the Jackson side.
...
Jackson died of an overdose of the anesthetic propofol administered at his home by Dr. Conrad Murray, as he was about to embark on a comeback series of concerts in London.
The singer’s mother and children sued concert promoter and producer AEG Live, saying the company had negligently hired and supervised Murray.
Following a five-month trial, a Superior Court jury found AEG Live not liable in Jackson’s death.
Testimony in the case showed that Jackson’s estate repaid AEG the advance of more than $30 million the company gave Jackson during rehearsals.
...
Paul Schrieffer, the attorney for Lloyd's, could not be reached for comment.
Source: http://www.latimes.com/local/lanow/la-me-ln-michael-jackson-tour-settle-20140115,0,1846521.story#ixzz2qzIN8Q5S