Spanish Version is here:
• 2003 The criminal allegations
• 2004 Bank of America haunting him with absurd covenants. While research for new refinancing started promptly, too many people were involved proposing any kind of trick. Stabler talked with Branca and Koppelman and Fortress out of no where purchased his loan from Bank of America.
• 2005 The loan’s matured. Fortress granting 3 extensions too short and too expensive (3 million each time) not giving the suitable time to put in place new refinancing documentation. Branca filed a UCC1 on MJ Trusts.
• 2006: Five banks answered Michael Jackson bid for refinancing however Fortress, which was not even a bank but hedging fund, “found” foreign currency to finance MJ debt and keept him tied with another over collaterized investment, where all his assets were pledged again. Branca payment meant another pledge over Neverland. Branca liens still delays the loans disbursement to the extent that Bank of America almost open the liquidation procedure. Once Branca is finally paid off, it jumps out another potential impediment with the Prescient lawsuit.
ALL THIS WHILE MICHAEL JACKSON WAS SPENDING HIS DAYS BEFORE A JURY THAT HAD TO DECIDE HOW HE WOULD HAVE PASS THE NEXT 30 YEARS OF HIS LIFE IF HE WAS FOUND GUILTY.
Some entity behind the scene created these events to make him has fail. And he knew, he told us!
Before we go any further with the odyssey of the Michael Jackson refinancing of Bank of America it must be clear that MJ wanted to have the 100% shares of Sony/ATV all for himself. In fact the only document he signed personally through this whole ugly Prescient story, is a non binding letter for the study and the evaluation of the acquisition of Sony’s 50% shares in Sony/ATV.
If you have read the first part of the blog, http://marcoballetta.com/going-back-to-the-root-of-michael-jackson-financial-problems/ you already realized that Stabler contacted anyone whom potentially could have given him a hefty percentage. Darien Dash, owner of Prescient, connected with Transitional, a company affiliated to Fortress and in December 2004 they submitted a refinancing project which included the acquisition of 50% shares of Sony Corp in Sony/ATV. In fact with the tenth anniversary of company incorporation an article of the operating agreement of the company included a buy/sell provision. Both members were subject to the buy/sell agreement.
More details here :
There were many reasons why MJ wanted to purchase and get rid of Sony as business partner also with Sony ATV and Transitional presentation explain them clearly.
Spanish Version is here:
This is John Branca, the lawyer that filed an UCC Financing Statement against #MichaelJackson and the MJ Trusts in 2005 !
Below you can read the injunction papers filed by John Branca
John Branca asserted that he had “membership interests” in Sony/ATV and in MIJAC Catalog when he filed the injunctions against Michael Jackson, blocking the procedure for the new refinance that Michael Jackson was putting in place.
Branca put Michael Jackson into risk of foreclosing and hence bankruptcy.
The screen caps below are excerpts of the memorandum written by Michael Jackson ‘s lawyers, describing the Branca UCCs and how the injunctions against Michael Jackson was causing serious risk of defaulting the BOA (Bank of America) loans.
John Branca made an injunction in the form of an ATTACHMENT ORDER over assets, that – he knew very well – Michael Jackson was processing to get refinanced, the same assets that had to be free from any liens, except for the Lender (BOA).
Spanish Version is here:
After so many years spent presenting our point of views in twitter, getting insults in return and being called nasty names, the sale of the Michael Jackson catalog’s shares was probably our breaking point.
So we went back to the root of the misinformation and we have decided that we will present to fellow fans the documents that has been kept away by whom had and have interests in bury the truth and rewrite MJ HIStory.
Detailed and documented facts regarding Michael Jackson’s financial tale/problems will be presented to fight against MEDIA, journalists, writers, his own Estate and unfortunately also by some people who call themselves Michael Jackson’s fans. All of them have mastered the art of telling you the best lies covered with half-truths.
Going through the documents of the countless lawsuits that persecuted, bittered and haunted the last years of Michael Jackson’s life, we have got to see that these papers tell us a different story from what of little and distorted we’d gotten used to hear, particularly from a business/financial standpoint.
In this blog entry, we will show Michael Jackson’s strong belief in a conspiracy against himself, perpetrated for many years by various shadow individuals and the entertainment industry. We will use the official depositions, video of people been aware of MJ thought and the MAN himself. And you will notice how vocal he was in this regard. You will be able to read and judge yourself.
In the next blog entries, through this year, we will offer detailed facts and numbers about Michael Jackson’s finances giving back to the fans the HONORABLE MAN they love, erasing a fake narrative meant to point the finger against MJ for his financial problems, purposely ignoring what “THEY” did to take him into the brink.
For this blog post, we are going to start talking about the Prescient Acquisition lawsuit and Michael Jackson:
As soon as Michael Jackson was acquitted on child molestation charges, a lending intermediary company called Prescient Capital of Englewood Cliffs sued him for breach of contract, asserting that he owed $48 million in fees for work the company did to secure financing to cover the debts at Bank of America (BOA).
At the conclusion of the case in 2007, few tabloids and magazines revealed a conspiracy against Michael by reporting MJ’s words in his deposition.
Some captures taken from MJ’s deposition: