Michael Jackson - Estate will recieve a 17.5 million dollar payout!

Lloyd;s of London and Michael Jackson's estate settled a lawsuit payout for over 17.5 million dollars! 

Lloyd's of London and Michael Jackson's estate have settled a lawsuit, that will result in a payout of over 17.5 million dollars. The policy related to the singer's planned comeback concerts in London called 'This is It', these shows never happened because of the death of the singer. Lawyers for Certain Underwriters at Lloyd's of London and Michael Jackson's estate announced the settlement before a hearing that would have altered what evidence would be presented at trial. No one knows what the actual end result would have been because of the settlement made before.

Lloyd's of London sued Michael Jackson's estate back in 2011 seeking to nullify a non apperance and concerts cancellation policy that was issued two months before Michael's death back in June 2009. They said that the promoter of 'This is It' did not disclose everything they new about the singers health before they took out the policy. Howard Weitzman an attorney for Jackson's estate and Paul K. Shrieffer, who represented Lloyd's said both sides are pleased the case was resolved.