EXCLUSIVE: No Deal For Debbie Rowe!

Jul. 14 2009, Updated 4:46 a.m. ET

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Deal -- or no deal?

NO DEAL!

RadarOnline.com has exclusively learned that despite reports to the contrary, Michael Jackson's ex-wife Debbie Rowe has NOT reached a multi-million dollar settlement with Katherine Jackson over the custody of her two children with the late King Of Pop.

Londell McMillan attorney for Katherine told RadarOnline.com, "The reports are false," regarding Katherine settling with Rowe.

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And multiple sources close to the situation told RadarOnline.com: "There is no deal that has been reached."

There is a guardianship hearing scheduled for Monday morning, and it's still on calendar.

There had been a hearing set for this past Monday, but both sides requested a continuance.

Calls to Debbie Rowe's attorneys weren't immediately returned.

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