dollars ain't small mulla.
Michael Jackson's Estate just scored big over lawsuit filed by British
company Lloyd's London who claimed it did not have to honor the policy
it issued to cover losses from the failed "This Is It" tour. Lloyd's
felt it had been deceived because no one ever disclosed Michael had
serious drug problems.
According to TMZ, "Lloyd's of London has dropped its claim that it
doesn't have to honor a huge insurance policy on grounds it was never
told Michael Jackson was a drug addict ... and they've now agreed to a
payout."
And payout means, the MJ Estate allegedly just got a whooping $17.5
million, which was the under the 'policy' agreement. But according to
gossip site, TMZ, "it's not the full amount under the policy that was
paid." But claim Lloyd has paid something to settle and the reason a
payout is so important is because Lloyd's essentially folded on its
fraud claim.
No comments:
Post a Comment