M.J is literally still making more money even in death. 17.5 million dollars ain’t small mulla.
Michael Jackson’s Estate just scored big over lawsuit filed by British company Lloyd’s London who claimed it did not have to honor the policy it issued to cover losses from the failed "This Is It" tour. Lloyd's felt it had been deceived because no one ever disclosed Michael had serious drug problems.
According to TMZ, “Lloyd's of London has dropped its claim that it doesn't have to honor a huge insurance policy on grounds it was never told Michael Jackson was a drug addict ... and they’ve now agreed to a payout.”
And payout means, the MJ Estate allegedly just got a whooping $17.5 million, which was the under the ‘policy’ agreement. But according to gossip site, TMZ, “it’s not the full amount under the policy that was paid.” But claim Lloyd has paid something to settle and the reason a payout is so important is because Lloyd's essentially folded on its fraud claim.