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Wednesday, February 3, 2010

Michael Jackson Estate Pays 10% to Executors

Posted Feb 3rd 2010 6:00PM by TMZ Staff
The executors for the estate of Michael Jackson just got their 10%.
John McClain and John Branca had asked the judge for 10% of the profits made from a number of estate-related ventures.

The judge just approved the fee request, stating that the arrangement actually could save the estate money -- because the traditional way of making deals with managers, lawyers, etc. costs a bloody fortune.

One item excluded from the 10% profits from the movie, "This Is It."

The judge also gave McClain and Branca the right to green light deals without going back to court every time for permission.

The judge gave McClain and Branca props for raking in the dough for the estate

Read more: http://www.tmz.com/#ixzz0eX3wLW4b (updated)

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