Michael Jackson's estate, Lloyd's of London settle insurance dispute
LOS ANGELES (REUTERS) - The insurers of Michael Jackson's ill-fated "This Is It" London comeback concerts have settled out of court with the late King of Pop's estate over a US$17.5 million (S$22.3 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 on Wednesday. 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.