Saturday, 14. February 2004
Topic: MUSIK - on February 14, 2004 at 2:33:00 AM CET
Michael Jackson Faces Cash Crisis
Michael Jackson is near insolvency as he continues to pile up debt, sapping his last credit reserves, several close financial advisers say.
Mr. Jackson faces an immediate cash crisis with a $70 million loan from the Bank of America that is due on Tuesday and has no money to repay it, the advisers said. But Al Malnik, a Miami entrepreneur who is helping repair Mr. Jackson's finances, said that he was trying to have the loan extended.
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