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Lawsuit Against Michael Jackson’s Estate by Lloyd’s of London Settled
A judge was informed on Wednesday by lawyers that a lawsuit regarding Michael Jackson’s comeback concerts has been settled, according to ABC News. The lawsuit was for $17.5 million.
The hearing that was originally scheduled would have changed what evidence could have been presented at the trial. Instead, the lawyers for Certain Underwriters at Lloyd’s London and the lawyers for the estate of Michael Jackson announced the settlement.
Lawyers for both sides had no idea how the judge was going to rule prior to them making the announcement about the settlement.
The estate of Michael Jackson was sued by Lloyd’s in 2011. The lawsuit asked that a non-appearance and concert cancellation policy be nullified. The policy was issued two months before Jackson died in July of 2009.
According to the insurer, the exam of Jackson required to validate the policy was never completed. The insurer also claimed that the tour promoter did not disclose all it knew about the health of Jackson when the promoter applied for the policy.
The attorney for Jackson’s estate is Howard Weitzman and the attorney for Lloyd’s is Paul K. Shrieffer. Both lawyers said they are pleased with the settlement of the lawsuit, which is confidential.
The trial was scheduled for February 24.Lawsuit Against Michael Jackson's Estate by Lloyd's of London Settled by Jim Vassallo