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http://www.express.co.uk/posts/view/226 ... son-payout

TRIAL WILL DECIDE MICHAEL JACKSON PAYOUT

Llyod's could escape a multi-million pound payout to the promoter of Michael Jackson's tour
Sunday January 30,2011
By Geoff Ho
LLOYD'S of London insurers will escape having to make a multi-million pound payout to the promoter of Michael Jackson's ill-fated comeback tour if the singer's personal physician is convicted of involuntary manslaughter.

The insurance policy taken out by AEG, owners of the O2 Arena where Jackson's 50-date This Is It concert series was to take place, stipulates that a payout would only occur if the singer failed to perform due to an accidental death.

In the event of Dr Conrad Murray being convicted, the syndicate of Lloyd's insurers behind the policy will not have to pay a penny, sources say.

Earlier this month, a judge ruled that the cardiologist would stand trial in Los Angeles over the death of the pop legend in June 2009. It is alleged he gave Jackson a lethal dose of an anaesthetic, mixed with other sedatives and then failed to provide proper care.

If convicted, Murray could face up to four years in jail. He has pleaded not guilty.

Read more: http://www.express.co.uk/posts/view/226 ... z1CVy9184w

[2good2btrue]

AEG, owners of the O2 Arena where Jackson's 50-date This Is It concert series was to take place, stipulates that a payout would only occur if the singer failed to perform due to an accidental death.

In the event of Dr Conrad Murray being convicted, the syndicate of Lloyd's insurers behind the policy will not have to pay a penny, sources say.

So does this mean AEG will not be re-imbursed for all the expenses incurred in preparing TII ????  But didn't they profit from the This is it movie profits ?????

[all4loveandbelieve]

AEG, owners of the O2 Arena where Jackson's 50-date This Is It concert series was to take place, stipulates that a payout would only occur if the singer failed to perform due to an accidental death.

In the event of Dr Conrad Murray being convicted, the syndicate of Lloyd's insurers behind the policy will not have to pay a penny, sources say.

So does this mean AEG will not be re-imbursed for all the expenses incurred in preparing TII ????  But didn't they profit from the This is it movie profits ?????

This was my understanding they did get some profit from TII. I have no clue anymore. This is really a movie, a twilight zone movie..  :lol: Nothing makes sense anymore. As soon you find something concrete, you feel you made a step forward something like this comes out and you feel you made 5 step backwards.. Oh well  we shall wait and see. blessings.

[suspicious mind]

wonder if in a large payoff situation, espcially under these kinds of circumstances if insurance companies do some investigating of their own?

[heisinme09]

wonder if in a large payoff situation, espcially under these kinds of circumstances if insurance companies do some investigating of their own?

Oh, you BETCHA they do!!!

[ForstAMoon]

wonder if in a large payoff situation, espcially under these kinds of circumstances if insurance companies do some investigating of their own?

Oh, you BETCHA they do!!!

Absolutely they do. But here, if Murray gets convicted, then depending on the laws upon which the insurance was issued, they still may end up with court over the payout. Probably they can use Murray trial verdict as an argument, but still if the payout is taken to court, then the court will decide whether involuntary manslaughter is an accident as defined under the insurance. This does not need to be that simple.

I am not also sure if the profits from This is it movie can be combined with insurance payout just like that. This I guess would also depend on the wording of the policy.