Appellate panel sides with Michael Jackson estate in tentative ruling expected to end Katherine Jackson's appeal of $600 million catalog sale to Sony
more than a year ago. Because she failed to argue then that the asset sale allegedly violated the terms ofIn a new tentative opinion expected to be adopted over the next 90 days, the appellate panel sided with Michael Jackson’s estate executors and said Katherine Jackson “forfeited” the core claim of her appeal by not raising it in the lower court that first rubber-stamped the deal.
Katherine’s lawyer was set to give an oral argument for the appeal effort Wednesday, but waived the appearance after the tentative was issued. The tentative, obtained by, ended with the warning that “this court will not entertain further briefing or grant a continuance.” “Katherine did not contend that the sale violated the terms of Michael’s will or were inconsistent with the Probate Code. Indeed, as the executors note, Katherine agreed in the probate court that the will gives the executors the power to sell, exchange, or otherwise dispose of the estate’s real or personal property,” the judges wrote.
In her appellate filings leading up to the tentative ruling, Katherine and her lawyers called the deal “wholly improper.” They said she was seeking appellate relief so she could sue the estate for breach of fiduciary duty. , estate lawyer Jonathan P. Steinsapir called the deal a “remarkable” one that gives the estate “the best of both worlds” in terms of tax benefits and earnings.
“Bigi objected to the proposed transaction. He believed that the executors should prove the necessity of the proposed transaction to the court,” the lawyer wrote. But once the court heard from Katherine and Bigi and still decided to approve the transaction, Bigi was persuaded that the deal couldn’t be stopped, he said. “The chances of a reversal on appeal were quite slim, and Bigi did not wish to incur further expense in pursuing an appeal,” the lawyer wrote.
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