According to the documents filed by the executors of his estate on Friday, Jackson's financial situation was dire, with multiple creditors' claims and high-interest debts.

The court filing stated that Jackson's most significant assets were heavily burdened by debt and creditors' claims, some of which were accumulating interest at exorbitant rates while others were already in default. This financial crisis emerged just as Jackson was preparing to embark on his highly anticipated concert tour, "This is It," comprising a massive 50-show engagement at London's O2 Arena.

Tragically, Jackson passed away shortly before the tour's launch, leaving his estate responsible for a staggering $40 million liability to the tour promoter, AEG. The court documents request that funds from Jackson's estate be allocated to reimburse the executors' attorneys for their legal services and cover various expenses incurred in 2018.

The filing also revealed that Jackson was facing pending lawsuits in multiple states and countries at the time of his death. Over 65 creditors' claims had been filed, triggering further legal actions. However, the executors successfully resolved most of the claims and litigation, bringing some relief to the singer's beleaguered estate.

Michael Jackson, famous for his illustrious career, including 13 Grammy Awards, two inductions into the Rock & Roll Hall of Fame, and record sales exceeding 400 million, tragically died at the age of 50 due to acute propofol intoxication in his Los Angeles mansion.

It is worth noting that his personal physician, Dr. Conrad Murray, was found guilty of involuntary manslaughter in 2011 for providing the drug to Jackson. Despite the significant debts and legal challenges that plagued his estate, Jackson's legacy as the "King of Pop" and his impact on the music industry remain unparalleled.