Singer tips into NYC to deal with lawsuit; plus LaToya says Neverland was always supposed to close.

Poor Poor Jacko, he’s got so many problems!

*After months of living in the Middle Eastern nation of Bahrain following his acquittal of child molestation charges, Michael Jackson reportedly stepped foot on American soil last week to give a deposition in a lawsuit filed against him.

According to Foxnews.com’s Roger Friedman, the singer flew in Wednesday and went to an undisclosed location in New York to give a deposition in a $48 million lawsuit filed against him by Prescient Partners, a.k.a Darien Dash, cousin of hip-hop mogul Damon Dash.

Darien claims the pop star, or someone representing him, promised his company a 9 percent fee if they could find him financing to buy out his Bank of America loans. Prescient says it rounded up over $500 million in financing from Fortress Investments, but Dash has yet to be paid by Jackson.

Fortress hasn’t seen their money from Jackson either, according to Friedman, who adds the firm could foreclose on the singer at any time on $270 million in loans. As previously reported, Sony Music, Jackson’s partner in Sony/ATV Music Publishing, is attempting to buy the loans from Fortress with assistance from Citigroup, which has requested a small piece of Jackson’s holdings as a condition. Fortress, however, won’t budge, and wants 20 percent of the sum, sources tell Friedman.

Meanwhile, Jackson’s Neverland ranch was closed last week after it was discovered that workers compensation insurance had been allowed to run out. Jackson’s sister, LaToya, says she’s happy to see the 2,800 acre ranch finally shut down as Jackson had promised after his acquittal last June.

“When he left he said, ‘It’s finished, never again,’” she tells Access Hollywood. “He felt that his privacy was invaded, so it’s time to leave, and that’s what he did.”

LaToya added that her brother is “doing wonderful. He is doing really well, and he is happy with where he is, and I’m happy for him for being so happy and content with his life at the moment.”

Posted by loni on 03/27 at 02:34 PM in Celebrity

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