One of the ongoing cases is about the ownership of The Michael Jackson Company. Quadree El-Amin, Broderick Morris, Aldean King and Raymone Bain combined claims ownership on 15% of the Michael Jackson Company. A non-jury trial to determine the ownership of Michael Jackson Company is ongoing on LA Superior Court probate section. This post is going to cover the court documents as well as the media reports of the ongoing trial.
First a timeline of events:
May 26, 2006: MJ arrived in Tokyo, Japan. He participated in some promotional events and meetings with company owners.
May 30, 2006: MJ entered into an operating agreement with Bain for a new company “The Michael Jackson Company”. Bain would serve as president and COO of the company. This document did not list any ownership structure for the Michael Jackson Company. Document states Bain was to get 10% finder’s fee for the business deals happened due to her efforts. Document stated that the investors and Board of Directors were to meet between June 16-30.
June 1, 2006: According to El-Amin, Morris, King and Bain’s claims MJ met with them, told them he was unable to compensate them for their services and gave them ownership interest in the Michael Jackson Company and a seat as board of the directors. According to the signed meeting minutes document El-Amin, Morris and King was supposed to get 1.6% share, Bain and Katherine Jackson was to get 10%.