Michael Jackson is having more legal troubles, this time in the civil court. Prescient Acquisition Group, a financing company specialising in acquisitions, has filed a claim against Jackson for $48 million. According to the company, Jackson owes the huge sum because he hired the firm to obtain the rights to part of The Beatles' back catalogue several year ago. Prescient helped Jackson to refinance a debt of $272 million with the Bank of America last November. The lawsuit states that Prescient Acquisition Group made $537 million available to Jackson, enough for him to refinance, and also to purchase the rights to the remaining 50% of The Beatles songs. |