Bahrain finance firm sues Jackson estate

Buenos Aires News.Net
Saturday 2nd October, 2010

Michael Jackson’s estate has been was sued by a Bahrain financial consulting company for $1.2 million.

It has been claimed by AQ Consulting that the singer was helped by the company to obtain $320 million in loans in 2005.

AQ Consulting said it had been hired by Jackson to help refinance money owed to the Fortress Investment Group.

According to AQ, after it managed to secure $300 million for Jackson, Fortress then agreed to refinance the loans itself.

Legal advisers for the Bahrain company have said Jackson agreed to pay AQ one percent of the total refinancing, but the company had only ever received $2 million.

Jackson died in 2009 at the age of 50, leaving about $500 million in debt.

Have your say on this story