Abel80
00martedì 27 agosto 2002 15:35
From Extra: Recently listed in Las Vegas is a lovely five-bedroom home in the gated community of Rancho Nevada Estates. It's nice enough, but not newsworthy until you learn who owns the place and why they are selling. It's not Michael Jackson's home he lives at the Neverland Ranch. This more modest house-for-sale belongs to the King of Pop's parents, Joe and Katherine Jackson. Dan Humeston of Century 21 is the lucky listing agent for the Jackson house, which was purchased by Michael's parents in the 80's at the height of their son's career. No doubt, the sounds of his "Thriller" album echoed off the walls of the spacious den.
And as The Jacksons were one of the hottest acts on the Vegas strip in the 80's, this home, now empty and neglected, holds many happy memories for the family. So why are they selling? It's because they have to, due to bankruptcy.
After obtaining court papers dating back to March of 1999, "Extra" turned to Manhattan bankruptcy attorney Ralph Preite to make sense of this convoluted case. He says, "Well, it's certainly not a straightforward bankruptcy because it involves more than one case."
Michael Jackson's parents filed for bankruptcy because they were millions in debt, primarily because of a failed business venture in which they promised to bail out a troubled guitar company, but then backed out of the deal. And they were also successfully sued for millions by a South Korean company after organizing and promoting a Michael Jackson concert that never happened.
Now, years later, the Jackson parents have not only been forced to put their Vegas home on the market, but they also had to sell the Jackson homestead in Gary, Indiana where the first family of pop music was raised. "Extra" stopped by the house yesterday and discovered the new owner is having the place painted. Not newsworthy, until you learn the new owner is Michael Jackson. "Extra" is now first to report that Michael recently purchased the famed Jackson house for $25,000. It's money which will help bail his parents out of their bankruptcy.
But, whether Michael, who is celebrating his 44th birthday next week, will be the highest bidder on the Jackson's Vegas home is anybody's guess.