Michael Jacksons Estate Administrators Ask For Cut Of The Profits
Jan. 22 2010, Published 5:45 a.m. ET
Michael Jackson’s estate administrators are asking for ten percent of the profits earned by the entertainer’s work.
John Branca and John McCalin filed a document on Friday with the Los Angeles Superior Court asking for compensation which excludes the profits from the This Is It documentary (which is supposed to pay a debt owed to AEG), non-entertainment related investments and the interest from Jackson’s Sony/ATV music catalogue.
“The Special Administrators propose that they be compensated for their services in operating the MJJ Business in a total amount equal to 10% of the gross entertainment industry-related income received by the Estate, including its entities,” the papers read. “This compensation will also cover and include general entertainment legal services performed by the Ziffren Firm, excluding trademark, copyright, litigation, finance,
corporate, real estate, production legal work for film and tv production, guild/union/labor work bankruptcy and tax matters (which services will be performed by counsel other than the Ziffren Firm).”
To bolster their case, Branca and McClain pointed out that other administrators of estates comparable to Jackson’s (like the estats of Janis Joplin, Otis Redding, Jim Morrison of the Doors) and have received profits ranging from fifteen to twenty-five percent.
The two also filed documents this week opposing Jackson’s father Joe’s request to receive an allowance from the estate.
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