Michael Jackson’s Lavish Spending Habits Left Him More Than $500 Million in Debt at the Time of His

"Although the Executors have eliminated the Estate’s debt, have resolved virtually all of the creditors’ claims and litigation, and have successfully solidified the MJJ business as a significant entity in the music industry, there remain challenging business, tax and legal issues that the Executors and their counsel continue to deal with," the court documents clarified.

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