Attorneys representing Michael Jackson's mother Katherine and the two men listed in the pop superstar's will as temporary administrators of his estate, John Branca and music executive John McClain, met before a judge Monday in
They met before Los Angeles Superior Court Judge Mitchell Beckloff.
Here is some unedited lawyer back-and-forth from the proceedings from FOX News producer Lindsay Stewart, reported in real time via mobile device.
Paul. Gordon Hoffman (lead)
John e shreiber (lead)
State of ca:
Joseph zimring (dpty attorney general)
Now in session
Co-executor Branca in attendance.
Has not seen the trust document.
Sees that katherine's attorneys are not challenging the will.
But concerned about "the road we are goinf down"
Don't want to challenge will. Wants to appoint special administrator today.
Concerns about branca was removed in 2006 and the more recently reinstated.
Everyone needs to be at healm of this ship leading up to aug 3 when there will be a final determination of who will handle mj's affairs.
Attorney #3 fo katherine:
Will was drafted by branca's firm. And was drafted for the benefit of branca.
Default heirs are his 3 children. So why would katherine challenge?
Any other party heard about another will?
Attorney #2 for coexecutors:
No and we have performed an exhaustive search.
Were you at the
Mrm branca was. At the time we did not know katherine
Branca was there mon to let the family know that a will was in place. Nothing more.
Mcclain has fine mental capacity. He is disabled but it does not affect him in any way to serve as executor.
Mj hired branca to be one his lawyers. A copy of that was shown to katherine
Family members were contacted on a sunday, a holy day for the
Irreparable damage could be done in the next 4 weeks if we rush to give named co-executors control.
What damage could be done?
Heirs are not even represented.
I need to set some sort of bond.
I am incline to appoint his clients.
I fear we will be shut of from further exploration of conflict of interest.
Why would you lose your standing. Why could you not conduct dicovery?
I am not sure why you can explore issues of conflcit?
Mcclain has been a friend of the family for 40 yearsa. Branca has been
We believe its appropriate for the court to appoint our clientsm
Katherine is grieving her son. Would like more time before co-executors are name as such. So she would like to be special admin.
Katherine is concerned that mj's intent was to have three executors.
Court could name additional trusties.
We know there is a will.
Grant named executors their petition. The law compels that.
Need to set bond.
Take into account intellectual property. Should be guided by common sense.
Bond issue cuts both ways. Katherine not name in will.
Bond set for 1 million dollars.
Thinking about long term. I we don't appoint executor on aug 3.
Special admin should take action against any immediate losses to the state.
My view is that you will maintain status quo, some powers you ask for ok, some I don't understand or are too complex. You should not get blanket authority. You may neem court approval.
I agree with you (judge). Special admins will protect the estate, but this is special case unlike most others.
I understand the need for broader powers than normal. But limited to protecting the value of the estate.
Will go through the list of your (hoffmans) list:
Power to obtain docs and records (judge grants)
Contracts (judge:current contracts only, future: by court approval only)
Various ventures currently pending. Would like to make decisions related to future contracts with aeg tour. Need to negotiate with aeg
How would aeg negotiations work
Would give katherine notice.
Could save judicial time if katherine is consulted first. These negotiations were at the heart of our concerns, earlier arguments made.
Don't have issue with special admins negotiating with aeg. Encourages both sides to agree on aeg ... But the court needs to be involved since the three heirs are not representative.
Calls zimring/ state of ca
We offered katherine
I am not suggestion that katherine have notice, but not get the rights to approval.
I want both sides to communicate. The last think I want some agreement with aeg to get "gummed up in court"
So if katherine
State attorneys need to be notiified of new aeg contracts too.
(To hoffman) will let you find an agreement with aeg. Hope katherine
Number of companies jackson owned. Salaries need to continue.
Any new venture on behalf of the state would require court approval.
I have issue with people not getting enough notice...
I don't know how quickly all issues can get through courts.
But I did not appoint katherine jackson co admin...so reasonable flow of information is requested, but katherine's approval is not required.
My concern is that they think they are an active part of the negotiations.
Branca/mcclain are at the head of ship. Katherine needs to be aware of final negotiations.
If katherine doesn't a pprove, I still can.
Marshalling assets (granted)
Entering in on litigation
setting claims (requires court approval)
Hiring 3rd parties (court approval)
(This includes attorneys and accountant fees)
Modify existing agreements (subject to court approval)
Make sure there are no releases o liabitly.
I have set a million dollar bond.
Jackson hearing over