(Photo by Tim Whitby/Getty Images)
[photogallerylink id=9317 align=left]Lloyd’s of London has gone to court to ask a judge to allow them an “out” on paying the [lastfm link_type="artist_info"]Michael Jackson[/lastfm] estate $17.5 million dollars, according to TMZ.com.
Lloyd’s claims that Michael Jackson lied and therefore they shouldn’t have to pay for the losses on the farewell concert that never happened.
They allege that there are two main reasons why their financial responsibility to the doomed project should be forgiven.
1 – According to Lloyd’s Michael Jackson committed fraud when he said that he hadn’t seen a doctor for anything except cosmetic reasons since June of 2005.
2 – Additionally, that Jackson did not disclose that he had been taking prescription drugs prior to and at the time of his death, including the drug which allegedly may have caused his death, Propofol.
The company had issued a multimillion dollar policy to cover the “This Is It” tour for any incurred losses. Lloyd’s is formally seeking the debt be null and void due to the alleged fraud.
Howard Weitzman, the attorney for the Michael Jackson estate told TMZ, “This legal action is nothing more than an insurance company trying to avoid paying a legitimate claim by the insured.”
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