LOS ANGELES (Reuters) – The insurers of Michael Jackson's ill-fated “This Is It” London comeback concerts on Wednesday have settled out of court with the late King of Pop's estate over a $17.5 million policy, the attorney for Jackson's estate said.
The settlement caps three years of litigation between underwriter Lloyd's of London Ltd and Jackson's estate over the insurance policy. The case was scheduled to go to trial next month.
“The estate and Lloyd's of London are glad this matter got resolved,” Jackson estate attorney Howard Weitzman said in a statement. Terms of the deal were not disclosed.
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