The concert promoter behind Michael Jackson‘s ill-fated “This Is It” tour has dropped its claim to collect on a $17.5 million insurance policy for the singer … after the insurance company claimed AEG hid the extent of MJ’s extensive drug and health issues.
AEG announced the move last night … claiming the company has been contemplating the decision for months and it has nothing to do with the discovery of new emails that show AEG had doubts about MJ’s health around the time the company applied for the insurance policy.
FYI — the insurance company, Lloyds of London, had sued both AEG and Michael Jackson LLC in the wake of MJ’s death to cancel out the policy. L.O.L. has claimed AEG and MJ were not forthright about the singer’s drug addiction and failing health at the time they applied for the policy.
Read more at TMZ
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