LOS ANGELES \u2014 Michael Jackson was more than $500 million in debt in 2009 when he died ahead of a planned concert tour, according to new court documents.<\/p>\n\n\n\n
The deep financial hole the \u201cKing of Pop\u201d found himself in was detailed in a petition the executors of his estate filed Friday in Los Angeles County Superior Court.<\/p>\n\n\n\n
\u201cAt the time of Michael Jackson\u2019s death, Michael Jackson\u2019s most significant assets were subject to more than $500 million of debt and creditors\u2019 claims, with some of the debt accruing interest at extremely high interest rates, and some debt in default,\u201d the filing said.<\/p>\n\n\n\n
Before he died on June 25, 2009, Jackson was preparing to launch a concert tour called This Is It.<\/p>\n\n\n\n
The tour had been planned as a colossal 50-show engagement\u2002<\/a>at London\u2019s O2 Arena.<\/p>\n\n\n\n He died close to the eve of the tour, which left his estate financially liable for $40 million to the tour promoter, AEG, the filing said.<\/p>\n\n\n\n The filing requests that money from Jackson’s estate be used to reimburse the executors\u2019 attorneys for legal services and other expenses in 2018.<\/p>\n\n\n\n Jackson was also facing lawsuits in several states and countries when he died, the petition said. More than 65 creditors\u2019 claims had been filed, which prompted more lawsuits, the filing said.<\/p>\n\n\n\n The executors, however, have settled or disposed of most of the creditors\u2019 claims and litigation, the filing said.<\/p>\n\n\n\n Jackson died at his Los Angeles<\/a>\u2002<\/a>mansion<\/a> at age 50 of acute propofol intoxication. His physician, Dr. Conrad Murray, was found guilty of involuntary manslaughter in 2011 for providing the drug.<\/p>\n\n\n\n