Michael Jackson gets 90 days to repay loan or lose property
Submitted by Kiran Pahwa on Sat, 10/27/2007 - 11:20
Washington, Oct 27 : Pop icon Michael Jackson has got 90 days to pay back a huge loan of 23 million dollars and interest, failing which he risks losing his property including his Neverland mansion.
The singer has been served with the notice after he failed to pay the loan he owes to Fortress Music Trust.
The ‘Blood on the Dance Floor’ was to pay back before 12th October this year, reports Contactmusic.
According to reports, legal papers under the title of 'Notice Of Default And Election to Sell'’ were lodged in Santa Barbara County court on October 22.
A report on FoxNews.com claimed that the fallen super star has hired a home in Washington while his 17 million dollars worth Neverland ranch remains unoccupied. (ANI)
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