- China Overcapacity Worsening, EU Chamber Warns
- Investing in Good Karma – and Making a Profit
- Black Friday to Avoid Red Ink; Greenback Gets the Blues
- Bankruptcies Jump, Hitting Highest Level in Four Years
- Steepest Black Friday Discounts, Revealed
- Fed to Counsel Moviegoers on How to Use Credit Cards
- Where Do Pardoned Turkeys Go?
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Judge Erases Couple's $525,000 Mortgage Payment
- 4 Thanksgiving Week Buys For Your Portfolio: Market Pros
- There's a 'Great Chance' For a Double-Dip Recession: Strategist
- Revenge of the Gangsta Nerds
- Will TCU See The "Flutie Effect?"
- Retail Earnings and Sales to Improve in Q4: Analyst
- Consumers Catching the Holiday Spirit
- It's Beginning To Look A Lot More Riskless
- Crescenzi: Claims Level Suggests End to Job Losses
- Hedge Funds Take Early Lead in Warren Buffett's 'Big Bet'
MOST SHARED
- The Executive Job Search
- Where Do Pardoned Turkeys Go?
- Chinese Overcapacity is Worsening, EU Chamber Warns
- US Mint to Suspend American Eagle Gold 1-Ounce Coins
- Activision Prepares to Double Dip on ‘Modern Warfare 2’
- Salvation Army's Kettles Now Credit Card-Ready
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- Trader Talk
- Oil Friday
Text Size 
Katherine Jackson urged the court to let her stay in charge of her son's estate—a request she was denied—as her attorneys filed papers saying, "these circumstances are anything but ordinary."
"Little more than a week has passed since Mr. Jackson's death, and he has yet to be buried," reads the filing.
"Many questions remain about his final days." The filing then mentions the two co-executors from the 2002 will who have been named special administrators for the estate through at least August 3rd. "There is serious concern that Messrs. Branca and/or McClain may have real and/or potential conflicts of interest which may preclude their appointment as special administrators." It did not specify the conflicts, but concluded "By contrast, Mrs. Jackson clearly has no conflicts." Her lawyers go on to argue that she has another advantage. "She offers continuity of management since she is the only individual who has been directly and continuously involved with the decedent's business affairs throughout his career."
The next hearing in August may appoint a permanent administrator over the estate. However, Mrs. Jackson "is informed and believes that at least one other will, one that predates the 2002 Will, already has been lodged with the Court, and it remains quite possible that other documents will surface in the four weeks between now and the August 3, 2009 hearing." Sources tell CNBC that the earlier will has John Branca as an executor, just like the 2002 will.
Finally, Katherine Jackson, who personally did not appear in court, is asking that if both sides cannot agree on how to manage the estate by August 3, she would like the court to appoint an independent party "to protect the estate", adding, "At least one such organization already has expressed interest in providing assistance."
Print
Email
- For nearly three decades, these on-call experts have been dishing advice on how to – and not to – cook turkey.
- Eric Schmidt pledges to create a virtual copy of the Iraq National Museum at Google’s expense.
- Bill Griffeth is taking a leave of absence from CNBC and Power Lunch for a year. Here's a message from Bill.
- More shoppers than ever plan to comparison-shop this season. Who will benefit?
- It may be the most unusual guide to business you'll read.
- How can you get out of debt and back on the road to recovery? Follow these ten steps.
Data is a real-time snapshot *Data is delayed at least 15 minutes