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This is an archive article published on November 29, 2009

MJ’s debts ‘wiped out in 5 months after death’

The money needed to pay off MJ’s huge debts has been raised within five months after his death.

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The money needed to pay off Michael Jackson’s huge debts has been raised within five months after his death.

The King of Pop’s estate has apparently grossed almost half-a-billion dollars through the music CD royalties and box-office collection of the film ‘This Is It.’

Also,there has been an additional income from the sale of Jackson souvenirs and memorabilia,reports the Daily Star.

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However,administrators of Jackson’s estate,John Branca and John McClain,still face close to six lawsuits.

The cases include a 300-million-dollar action filed by New Jersey based company AllGood Entertainment. The company claims that the singer had backed out of a TV reunion concert with his brothers in Texas.

Administrators said solutions may be reached “by early in the New Year”.

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