Michael Jackson's Executors -- Pay Us Now!
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Michael Jackson's estate has not paid the Special Administrators a penny, but the day has now come -- at least according to new court docs filed by John Branca and John McClain.
The two men -- now officially the Executors of Michael Jackson's estate, are asking for 70% of the fees they have earned, pending court approval of the full amount.
The papers do not specify the amount Branca and McClain want. They do say that they want the statutory amount of executor fees for the first $25 million of the estate -- that fee comes to $188,000. But the estate is valued far in excess of $25 mil and the two Executors would be entitled to a portion of that as well. In addition, Branca and McClain also want fees "for their extraordinary services," though that amount is not specified.
According to the new documents, fees some of the law firms connected with the estate are asking for are huge. For example, the law firm of Greenberg Traurig wants $1,547,064.50. The firm of Hoffman, Sabban & Watenmaker wants $957,644. The firm of Kinsella, Weitzman, Iser, Kump & Aldisert wants $420,062.50.