katherine jacksonthe battle with his grandson, “Bigi” Jackson Blanketabout Michael Jacksonthe property took another turn.
According to court documents obtained by ET, Katherine accuses the executors of her late son’s estate of trying to maintain tight control over the money the estate distributes to the trust and, in turn, its beneficiaries. The court documents leave no room for ambiguity when they state that “it appears clear to (Katherine) that the Executors are holding all of the Estate’s assets in order to maintain control over them, and to avoid the more liberal distribution of the requirements of the trust .”
The documents also state that “there can be no doubt that the Court has jurisdiction to direct the executors to pay (Katherine’s) fees from the Estate.”
As ET previously reported, Katherine wants the estate to cover the legal fees she accrued in the process of appealing a judge’s previous ruling that allowed the estate to move forward with an undisclosed business transaction. Bigi initially agreed with his grandmother, but ended up siding with the property to move forward with the business transaction. Katherine, however, decided to appeal the decision and now wants the estate to cover the legal costs of this appeal.
In turn, Bigi wants the court to deny his request because, according to court documents, he “did not appeal the Court’s decision,” adding that “it was clear that the Court was acting within its discretionary powers. .the chances of a reversal on appeal were quite slim and Bigi did not wish to incur additional expense in filing an appeal.”
In Katherine’s court documents, it is stated that “there can be little doubt that the Court has jurisdiction to direct the executors to pay (her) Estate’s fees.” The documents add: “Based on information available to (Katherine), it appears that the Estate currently holds in the region of $1.5 billion.” Court documents also state that the estate is worth about $112 million.
RELATED CONTENT: