LOS ANGELES (AP) — A lawsuit over the payout of a $17.5 million policy related to Michael Jackson’s planned comeback concerts has been settled, attorneys told a judge on Wednesday.
Lawyers for Certain Underwriters at Lloyd’s of London and Jackson’s estate announced the settlement before a hearing that would have altered what evidence would be presented at trial. Lawyers for the insurer and Jackson’s estate did not know how the judge was planning to rule before announcing they had resolved the case.
Lloyd’s sued Jackson’s estate in 2011 seeking to nullify a non-appearance and concert cancellation policy that it issued roughly two months before Jackson’s death in June 2009. The insurer contended that an examination of Jackson that was required for the policy was not completed and the promoter of the “This Is It” shows did not disclose everything it knew about the singer’s health when it took out the policy.