http://www.youtube.com/watch?v=nw38AZEv4io
http://en.wikipedia.org/wiki/Tamoil
Excerpt:
Tamoil the trading name of the Oilinvest (Netherlands) B.V. Group, a European based downstream oil group.
The Tamoil Group, which was purchased by Libyan state entities in the late 1980s, is involved in supplying, trading, refining and selling petroleum products.
Recently, Roger Tamraz’s Netoil group of companies has been in discussions with Libya to buy back Tamoil.[1][2][3]
Contents |
[edit] History
The Tamoil Group first established refining and retail operations in Italy.The Netoil group of companies, led by Roger Tamraz, founded Tamoil by purchasing and combining all of the Italian assets of Amoco (Standard Oil Company of Indiana) and of Texaco Corporation (1,000 service stations each), starting in the 1980s. Following the purchase of the Tamoil Group by Libyan state entities in the late 1980s, the Group expanded the company to approximately 3,000 service stations, three refineries, an extensive pipeline distribution system and a refining capacity of 250,000 barrels of oil per day.
During the 1990s, the Tamoil Group expanded rapidly by entering markets in Switzerland (1990), Germany (1991), Spain (1992) and the Netherlands (1993).
In addition to its European business, the Tamoil Group also had operations in Africa. The group’s first presence in Africa was in Egypt in 1993. From 2000 onwards, the Tamoil Group pursued its expansion throughout Africa by setting up operations in various African countries including Gabon, Senegal, Kenya, Ivory Coast, Cameroon, Morocco and Tunisia. As a result of this period of strong growth the Tamoil Group was present in a total of 19 African countries.
In 2006 the Tamoil Group’s African business was transferred to a new Libyan shareholder, the Libyan African Investment Portfolio (LAIP). Following this, the African section of the Tamoil Group was rebranded as ‘Oilibya’.
http://af.reuters.com/article/libyaNews/idAFLDE77N0NU20110824
Excerpt:
Libya's Tamoil cuts links with Gaddafi state investors
AMSTERDAM Aug 24 (Reuters) - A Libyan oil firm based in the Netherlands has cut its links and payments toMuammar Gaddafi's regime, the Dutch finance minister said on Wednesday, following an order from the ministry to comply with European sanctions.
Dutch-based Oilinvest's shareholders included the Libyan Foreign Bank, Libyan Investment Authority and National Oil Corporation, which were linked to the Gaddafi regime.
Those shareholders' assets were frozen by the European Union after Gaddafi's violent crackdown on civilian protesters in Libya. Gaddafi has been charged with crimes against humanity by the International Criminal Court in The Hague.
Oilinvest has now cut its ties to its Libyan shareholders and those shares have been placed in an independent foundation, the Dutch finance minister, Jan Kees de Jager, said in a letter to parliament. The foundation has share certificates representing 94.9 percent of the company, he added.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agqIES8nXjS8
Excerpt:
June 6 (Bloomberg) -- Colony Capital LLC, the property buyout firm led by billionaire Thomas Barrack, agreed to acquire Libyan refiner Tamoil SA for 4 billion euros ($5.4 billion) in the North African nation's biggest foreign transaction.
Colony will get refineries in Germany, Italy and Switzerland and more than 3,000 filling stations in Europe, the Los Angeles-based company said today in a statement. Libya's government will retain 35 percent of Tamoil after the sale, in which Colony beat more than 10 bidders, including Carlyle Group.
http://www.forbes.com/profile/thomas-barrack/
Excerpt:
Dutch-based Oilinvest's shareholders included the Libyan Foreign Bank, Libyan Investment Authority and National Oil Corporation, which were linked to the Gaddafi regime.
Those shareholders' assets were frozen by the European Union after Gaddafi's violent crackdown on civilian protesters in Libya. Gaddafi has been charged with crimes against humanity by the International Criminal Court in The Hague.
Oilinvest has now cut its ties to its Libyan shareholders and those shares have been placed in an independent foundation, the Dutch finance minister, Jan Kees de Jager, said in a letter to parliament. The foundation has share certificates representing 94.9 percent of the company, he added.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=agqIES8nXjS8
Excerpt:
June 6 (Bloomberg) -- Colony Capital LLC, the property buyout firm led by billionaire Thomas Barrack, agreed to acquire Libyan refiner Tamoil SA for 4 billion euros ($5.4 billion) in the North African nation's biggest foreign transaction.
Colony will get refineries in Germany, Italy and Switzerland and more than 3,000 filling stations in Europe, the Los Angeles-based company said today in a statement. Libya's government will retain 35 percent of Tamoil after the sale, in which Colony beat more than 10 bidders, including Carlyle Group.
http://www.forbes.com/profile/thomas-barrack/
Excerpt:
Thomas Barrack
- Net Worth
- $1.1 B
- Age: 64
- Source: Colony Capital, self-made
Real estate investor Thomas Barrack founded Colony Capital in 1991, and bought up bad real estate loans from busted S&Ls. The firm now manages $34 billion in assets, including $18 billion in 16 commercial real estate and distressed debt-focused funds. Returns for funds have varied widely but Barrack has a history of waiting for bets to pay off. Grandson of Lebanese immigrants to Los Angeles, he has continued to build his fortune through buying out-of-favor assets, including some $200 million in Middle East real estate and $534 million in non-performing German real estate loans. Quirkier investments include Michael Jackson's Neverland Ranch and a $24 million loan to photographer Annie Leibowitz.
http://www.thehalifaxgroup.com/content/ourteam/history.cfm
Excerpt:
Our History
In 1999 David W. Dupree, a former managing director and partner at The Carlyle Group and William L. Rogers, a founding partner of Colony Investors, along with David Bonderman, founder of TPG Capital, and Thomas J. Barrack, founder and chairman of Colony Capital, identified a growing opportunity to invest in mid-sized businesses and assist entrepreneurs with growing their enterprises. As the private equity industry matured and evolved, larger firms vacated the lower middle market to focus on more sizeable investments, and very few investment professionals, with global experience and relationships, remained focused on the lower middle market.
Seeing this opportunity, Halifax's founders and principals set about to apply their expertise gained with such global firms as PaineWebber (Brent Williams), GE Capital (Ken Doyle) and the Carlyle Group, to investing with a growing number of owner-operated businesses seeking a partner for growth or liquidity. Halifax identified and applied a vital blend of "large cap know-how" with a focus on the unique issues that accompany transactions with family-owned and entrepreneurial businesses.
It was with these principles in mind that The Halifax Group received its name. The Halifax Group is named for Halifax, North Carolina, a small town in the northeast part of the state. It was the birthplace of The Halifax Resolves, which was a forerunner to the Declaration of Independence and articulated the terms around which the colony would secede from British rule. In much the same way, Halifax's founders believed their approach to investing would be a declaration of independence from the traditional "large firm" approach.
http://en.wikipedia.org/wiki/Neverland_Ranch
Excerpt:
On May 12, 2008, a foreclosure auction for the ranch was canceled after an investment company, Colony Capital LLC, purchased the loan, which was in default.[14] In a press release, Jackson stated, "I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future."
http://mjandjustice4some.blogspot.com/2010_06_01_archive.html
Excerpt:
Colony Capital (CC) is seemingly linked to everyone regarding Michael Jackson's last few years on earth. We know that Tohme worked for CC. We know that CC bought Neverland. We know that Tom Barrack and William Bone own Sunrise Colony, which holds the mortgage on Conrad Murray's Las Vegas soon-to-be-foreclosed home in the Red Rock Country Club. We know that Tohme enlisted Tom Barrack to not only buy the nearly defaulted loan on Neverland, but we also know that Tom Barrack also enlisted Randy Phillips and Phillip Anschutz of AEG to work with Michael on the 02 concert series. We know that Colony Capital "married with the Kingdom of Saudi Prince Alwaleed..." creating the Raffles and Fairmont hotel chains. Prince Alwaleed was friends with MJ for a very long time, partnering with him and SONY to form MJJ Productions, among other things. There are probably more connections here, but in short, COLONY CAPITAL IS EVERYWHERE with regard to Michael Jackson business partners. EVERYWHERE. So when anything Tom Barrack/Colony Capital comes up in the news, people who are in the know, read and research to figure out what he's up to next.
http://www.mychf.org/go/chf/hall-of-fame/past-honorees/bone-william/
Excerpt:
Founder and CEO
William Bone is the founder and Chief Executive Officer of Sunrise Colony Company. He is a nationally recognized expert in resort residential, hotel and recreation development, and frequently sought as a speaker on how to market these types of developments.
Born in Bakersfield, California, Mr. Bone received a B.A. in economics from Stanford University and an M.B.A. from Harvard University Graduate School of Business Administration
http://abclocal.go.com/kgo/story?section=news/entertainment&id=8410210
Excerpt:
Flanagan, the defense attorney, produced a certificate from Sunrise Hospital in Las Vegas showing Murray was certified to administer moderate anesthesia, referred to as "conscious sedation." However, the document showed several requirements including that the physician "monitor the patient carefully" and "provide adequate oxygenation and ventilation for a patient that stops breathing."
http://mjthekingofpop.wordpress.com/category/mj/
Excerpt:
http://www.thehalifaxgroup.com/content/ourteam/history.cfm
Excerpt:
Our History
In 1999 David W. Dupree, a former managing director and partner at The Carlyle Group and William L. Rogers, a founding partner of Colony Investors, along with David Bonderman, founder of TPG Capital, and Thomas J. Barrack, founder and chairman of Colony Capital, identified a growing opportunity to invest in mid-sized businesses and assist entrepreneurs with growing their enterprises. As the private equity industry matured and evolved, larger firms vacated the lower middle market to focus on more sizeable investments, and very few investment professionals, with global experience and relationships, remained focused on the lower middle market.
Seeing this opportunity, Halifax's founders and principals set about to apply their expertise gained with such global firms as PaineWebber (Brent Williams), GE Capital (Ken Doyle) and the Carlyle Group, to investing with a growing number of owner-operated businesses seeking a partner for growth or liquidity. Halifax identified and applied a vital blend of "large cap know-how" with a focus on the unique issues that accompany transactions with family-owned and entrepreneurial businesses.
It was with these principles in mind that The Halifax Group received its name. The Halifax Group is named for Halifax, North Carolina, a small town in the northeast part of the state. It was the birthplace of The Halifax Resolves, which was a forerunner to the Declaration of Independence and articulated the terms around which the colony would secede from British rule. In much the same way, Halifax's founders believed their approach to investing would be a declaration of independence from the traditional "large firm" approach.
http://en.wikipedia.org/wiki/Neverland_Ranch
Excerpt:
On May 12, 2008, a foreclosure auction for the ranch was canceled after an investment company, Colony Capital LLC, purchased the loan, which was in default.[14] In a press release, Jackson stated, "I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future."
http://mjandjustice4some.blogspot.com/2010_06_01_archive.html
Excerpt:
Colony Capital (CC) is seemingly linked to everyone regarding Michael Jackson's last few years on earth. We know that Tohme worked for CC. We know that CC bought Neverland. We know that Tom Barrack and William Bone own Sunrise Colony, which holds the mortgage on Conrad Murray's Las Vegas soon-to-be-foreclosed home in the Red Rock Country Club. We know that Tohme enlisted Tom Barrack to not only buy the nearly defaulted loan on Neverland, but we also know that Tom Barrack also enlisted Randy Phillips and Phillip Anschutz of AEG to work with Michael on the 02 concert series. We know that Colony Capital "married with the Kingdom of Saudi Prince Alwaleed..." creating the Raffles and Fairmont hotel chains. Prince Alwaleed was friends with MJ for a very long time, partnering with him and SONY to form MJJ Productions, among other things. There are probably more connections here, but in short, COLONY CAPITAL IS EVERYWHERE with regard to Michael Jackson business partners. EVERYWHERE. So when anything Tom Barrack/Colony Capital comes up in the news, people who are in the know, read and research to figure out what he's up to next.
http://www.mychf.org/go/chf/hall-of-fame/past-honorees/bone-william/
Excerpt:
1992 Honoree
Founder and CEO
Sunrise Colony Company
William Bone is the founder and Chief Executive Officer of Sunrise Colony Company. He is a nationally recognized expert in resort residential, hotel and recreation development, and frequently sought as a speaker on how to market these types of developments.Born in Bakersfield, California, Mr. Bone received a B.A. in economics from Stanford University and an M.B.A. from Harvard University Graduate School of Business Administration
http://abclocal.go.com/kgo/story?section=news/entertainment&id=8410210
Excerpt:
Flanagan, the defense attorney, produced a certificate from Sunrise Hospital in Las Vegas showing Murray was certified to administer moderate anesthesia, referred to as "conscious sedation." However, the document showed several requirements including that the physician "monitor the patient carefully" and "provide adequate oxygenation and ventilation for a patient that stops breathing."
http://mjthekingofpop.wordpress.com/category/mj/
Excerpt:
Michael Jackson, Dr. Tohme, Elvis Presley and the Las Vegas Doctor to the Stars’ “Sleep Diet” – Part Two
Posted by emma71 on July 21, 2010
October 20, 2009
By LBG1
In Part One, we outlined the ties between Dr. Tohme R. Tohme and Sig Rogich, one of the three “principals” in Tohme’s TRW Advertising. It was through those ties that we discovered the “tie” between Sig Rogich and Dr. Elias Ghanem, “Las Vegas’ Doctor to the Stars”, a doctor that had both Presley and Michael Jackson as patients.
http://news.sky.com/home/showbiz-news/article/15327857
Excerpt:
Tohme Tohme
Struggling to remain composed, Jermaine Jackson confirmed the shock death of his brother at a UCLA press conference.
He walked off stage and hugged Dr Tohme R Tohme.
Not a practicing doctor, Dr Tohme had been the dead singer's unofficial manager for several years, in what one insider called Jackson's "vagabond existence" flitting between countries and on the largesse of others.
Dr Tohme was dropped from his managerial role earlier this year - but he wasn't out of the scene for long.
He has since admitted to Fox News that he is unlicenced and would not say where or in what he specialised in.
http://en.wikipedia.org/wiki/Sig_Rogich
Excerpt:
Sigmund “Sig” Rogich is an Icelandic/American businessman and was a senior media consultant to leading Republican candidates for office, under Presidents Ronald Reagan and George H.W. Bush. He was senior campaign consultant for former Nevada Governor Kenny Guinn and incumbent Governor Jim Gibbons.
Rogich is president of The Rogich Communications Group, a national and international business facilitator, public relations, and crisis management firm.[1] He also founded Las Vegas based R&R Advertising, Nevada’s largest advertising and marketing firm, and has been closely involved with Las Vegas marketing for more than 30 years. His entertainment and business clients have included Frank Sinatra, Donald Trump, Mike Tyson, Steve Wynn, Kirk Kerkorian and Sheldon Adelson among others.
When he began working in the West Wing of the White House as an Assistant to the President for the first President Bush in 1989, he said: "I know it sounds corny for someone to tell you that they're patriotic and that they feel honored to do something like this . . . but I believe deeply in this President because he's all of that and more. It's just an honor to serve here." (His title in 1989-92 was special assistant to the President for activities and initiatives.)
http://www.lvrj.com/business/clout-who-s-got-juice-in-las-vegas-130521308.html
Excerpt:
Sig Rogich
67, president, Rogich Communications Group
American history might look a little different without Sig Rogich.
Rogich advised the campaigns of two U.S. presidents -- Ronald Reagan and George H. W. Bush -- and helped Senate Majority Leader Harry Reid, D-Nev., fend off a re-election challenge in 2010.
Along the way, Rogich also started the state's most influential advertising and lobbying firm in R&R Partners, served as ambassador to his native Iceland and assembled a cadre of connections and clients including Wayne Newton, John McCain, Mike Tyson, Donald Trump and Frank Sinatra. And when Reid's campaign needed a boost last fall, Rogich pulled out his Rolodex and assembled Republicans for Reid.
When he's not putting his weight behind political campaigns, Rogich works behind the scenes to make business deals -- especially his own -- happen. Reid supported a proposed high-speed train to Disneyland, but changed his tune in 2009 and put his money and clout behind DesertXpress Enterprises, a planned $4 billion high-speed train from Las Vegas to Victorville, Calif. Not surprisingly, Rogich is also a project booster.
In May, DesertXpress made headlines when its preferred station site near Mandalay Bay ended up in the cross hairs of developers looking to build a $2 billion stadium complex. Handling the stadium developers' publicity? Rogich, through his Rogich Communications Group.
The stadium deal is dead for now, forced for tax reasons to find another site. But for Rogich, it doesn't matter: Thanks to his ability to represent both sides, he comes out a winner either way.
-- Jennifer Robison
Michael Jackson cirque dusoleil
http://www.cirquedusoleil.com/en/shows/michael-jackson-tour/default.aspx
http://en.wikipedia.org/wiki/Michael_Jackson:_The_Immortal_World_Tour
Excerpt:
Michael Jackson: The Immortal World Tour is the official theatrical production by Cirque du Soleil which uses the music and vision of Michael Jackson along with Cirque du Soleil's signature acrobatic performance style to create a realistic concert experience. The arena show—which is very similar to a rock concert—began its tour October 2, 2011. After touring North America for about two years, it will continue on to Europe and the rest of the world. At the point in time it leaves North America, a resident show—which will be more theatrical in nature—will open in early 2013 at the Mandalay Bay Resort and Casino located in Las Vegas, Nevada.[1] In addition to the resident show at the Mandalay Bay, Cirque du Soleil will also be opening up a Michael Jackson-inspired lounge as well as a memorabilia gift shop.[2]
The Michael Jackson estate has partnered with Cirque du Soleil in order to create this concert experience. As part of the $250 million contract with Sony allowing music publishing until 2017, an album is expected to be produced.
http://www.tmz.com/2011/08/24/michael-jackson-estate-the-bottom-line-reveals-a-bonanza-huge-financial-gains-debt-beatles-catalog-publishing-trust-borrowed-money-elvis/
Excerpt:
Michael Jackson EstateHuge Financial Gains Revealed
New documents reveal ... Michael Jackson was in such debt at the time he died, his Beatles catalog was almost valueless, but the Estate has worked nothing less than a financial miracle to right the ship.
The docs -- obtained by TMZ -- show that at the time Michael died, his net worth was around $50 million. Shockingly, the ATV Publishing Trust -- the Beatles catalog -- was valued at only $474,544. We're told the reason it was so low was because Jackson had borrowed around $300 million against it.
Now, fast forward to October, 2010 -- 15 months after MJ's death. The net value of MJ's estate -- under the leadership of the Executors -- swelled to $218,964,000. And get this ... that figure doesn't include $185 million the Estate paid out for loans, family allowances, interest, paying off the Hayvenhurst mortgage, etc.
There are no figures for the current value of the Estate, but sources say it's worth much more than the valuation in October, 2010.
Short story -- Michael could be entering Elvis territory.
Excerpt:
SunCal calls Lehman's proposed plan a "bait-and-switch" that is designed to encourage creditors to give up their claims in return for promise of payment by Lehman. SunCal says Tom Barrack's Colony Capital LLC has agreed to provide that funding. SunCal says creditors eligible to vote have opted for its plan over Lehman's.
By LBG1
In Part One, we outlined the ties between Dr. Tohme R. Tohme and Sig Rogich, one of the three “principals” in Tohme’s TRW Advertising. It was through those ties that we discovered the “tie” between Sig Rogich and Dr. Elias Ghanem, “Las Vegas’ Doctor to the Stars”, a doctor that had both Presley and Michael Jackson as patients.
http://news.sky.com/home/showbiz-news/article/15327857
Excerpt:
Tohme Tohme
Struggling to remain composed, Jermaine Jackson confirmed the shock death of his brother at a UCLA press conference.
He walked off stage and hugged Dr Tohme R Tohme.
Not a practicing doctor, Dr Tohme had been the dead singer's unofficial manager for several years, in what one insider called Jackson's "vagabond existence" flitting between countries and on the largesse of others.
Dr Tohme was dropped from his managerial role earlier this year - but he wasn't out of the scene for long.
He has since admitted to Fox News that he is unlicenced and would not say where or in what he specialised in.
http://en.wikipedia.org/wiki/Sig_Rogich
Excerpt:
Sigmund “Sig” Rogich is an Icelandic/American businessman and was a senior media consultant to leading Republican candidates for office, under Presidents Ronald Reagan and George H.W. Bush. He was senior campaign consultant for former Nevada Governor Kenny Guinn and incumbent Governor Jim Gibbons.
Rogich is president of The Rogich Communications Group, a national and international business facilitator, public relations, and crisis management firm.[1] He also founded Las Vegas based R&R Advertising, Nevada’s largest advertising and marketing firm, and has been closely involved with Las Vegas marketing for more than 30 years. His entertainment and business clients have included Frank Sinatra, Donald Trump, Mike Tyson, Steve Wynn, Kirk Kerkorian and Sheldon Adelson among others.
When he began working in the West Wing of the White House as an Assistant to the President for the first President Bush in 1989, he said: "I know it sounds corny for someone to tell you that they're patriotic and that they feel honored to do something like this . . . but I believe deeply in this President because he's all of that and more. It's just an honor to serve here." (His title in 1989-92 was special assistant to the President for activities and initiatives.)
http://www.lvrj.com/business/clout-who-s-got-juice-in-las-vegas-130521308.html
Excerpt:
Sig Rogich
67, president, Rogich Communications Group
American history might look a little different without Sig Rogich.
Rogich advised the campaigns of two U.S. presidents -- Ronald Reagan and George H. W. Bush -- and helped Senate Majority Leader Harry Reid, D-Nev., fend off a re-election challenge in 2010.
Along the way, Rogich also started the state's most influential advertising and lobbying firm in R&R Partners, served as ambassador to his native Iceland and assembled a cadre of connections and clients including Wayne Newton, John McCain, Mike Tyson, Donald Trump and Frank Sinatra. And when Reid's campaign needed a boost last fall, Rogich pulled out his Rolodex and assembled Republicans for Reid.
When he's not putting his weight behind political campaigns, Rogich works behind the scenes to make business deals -- especially his own -- happen. Reid supported a proposed high-speed train to Disneyland, but changed his tune in 2009 and put his money and clout behind DesertXpress Enterprises, a planned $4 billion high-speed train from Las Vegas to Victorville, Calif. Not surprisingly, Rogich is also a project booster.
In May, DesertXpress made headlines when its preferred station site near Mandalay Bay ended up in the cross hairs of developers looking to build a $2 billion stadium complex. Handling the stadium developers' publicity? Rogich, through his Rogich Communications Group.
The stadium deal is dead for now, forced for tax reasons to find another site. But for Rogich, it doesn't matter: Thanks to his ability to represent both sides, he comes out a winner either way.
-- Jennifer Robison
Michael Jackson cirque dusoleil
http://www.cirquedusoleil.com/en/shows/michael-jackson-tour/default.aspx
http://en.wikipedia.org/wiki/Michael_Jackson:_The_Immortal_World_Tour
Excerpt:
Michael Jackson: The Immortal World Tour is the official theatrical production by Cirque du Soleil which uses the music and vision of Michael Jackson along with Cirque du Soleil's signature acrobatic performance style to create a realistic concert experience. The arena show—which is very similar to a rock concert—began its tour October 2, 2011. After touring North America for about two years, it will continue on to Europe and the rest of the world. At the point in time it leaves North America, a resident show—which will be more theatrical in nature—will open in early 2013 at the Mandalay Bay Resort and Casino located in Las Vegas, Nevada.[1] In addition to the resident show at the Mandalay Bay, Cirque du Soleil will also be opening up a Michael Jackson-inspired lounge as well as a memorabilia gift shop.[2]
The Michael Jackson estate has partnered with Cirque du Soleil in order to create this concert experience. As part of the $250 million contract with Sony allowing music publishing until 2017, an album is expected to be produced.
http://www.tmz.com/2011/08/24/michael-jackson-estate-the-bottom-line-reveals-a-bonanza-huge-financial-gains-debt-beatles-catalog-publishing-trust-borrowed-money-elvis/
Excerpt:
Michael Jackson EstateHuge Financial Gains Revealed
New documents reveal ... Michael Jackson was in such debt at the time he died, his Beatles catalog was almost valueless, but the Estate has worked nothing less than a financial miracle to right the ship.The docs -- obtained by TMZ -- show that at the time Michael died, his net worth was around $50 million. Shockingly, the ATV Publishing Trust -- the Beatles catalog -- was valued at only $474,544. We're told the reason it was so low was because Jackson had borrowed around $300 million against it.
Now, fast forward to October, 2010 -- 15 months after MJ's death. The net value of MJ's estate -- under the leadership of the Executors -- swelled to $218,964,000. And get this ... that figure doesn't include $185 million the Estate paid out for loans, family allowances, interest, paying off the Hayvenhurst mortgage, etc.
There are no figures for the current value of the Estate, but sources say it's worth much more than the valuation in October, 2010.
Short story -- Michael could be entering Elvis territory.
See also
http://www.marketwatch.com/story/lehman-suncal-to-face-off-in-bankruptcy-court-2011-10-21Excerpt:
SunCal calls Lehman's proposed plan a "bait-and-switch" that is designed to encourage creditors to give up their claims in return for promise of payment by Lehman. SunCal says Tom Barrack's Colony Capital LLC has agreed to provide that funding. SunCal says creditors eligible to vote have opted for its plan over Lehman's.
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