LOS ANGELES (Reuters) – The insurers of
Michael Jackson's ill-fated “This Is It” London comeback
concerts on Wednesday have settled out of court with the late King
of Pop's estate over a $17.5 million policy, the attorney for
Jackson's estate said.
The settlement caps three years of litigation between underwriter Lloyd's of London Ltd and Jackson's estate over the insurance policy. The case was scheduled to go to trial next month.
“The estate and Lloyd's of London are glad this matter got resolved,” Jackson estate attorney Howard Weitzman said in a statement. Terms of the deal were not disclosed.
The insurer had previously asked Los Angeles Superior Court Judge Malcolm Mackey to nullify the policy, saying they were never told that Jackson was taking powerful drugs.
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