After much controversy about the amount of knowledge they had concerning Michael Jackson’s well-being, concert promoter AEG has decided to drop it’s claim to collect on a $17.5 million insurance policy for the singer’s “This is It” tour.
The company announced the move last night, saying that it has absolutely nothing to do with the discovery of emails that show doubts about Jackson’s health around the time the insurance policy was applied for.
The insurance company, Lloyds of London, had sued both AEG and Michael Jackson LLC in the wake of Jackson’s death to cancel out the policy, claiming that the two were keeping information about the singer’s drug addiction and bad health quiet. In the wake of the newest developments, a rep for Lloyds told CNN,
“In exchange for AEG withdrawing its insurance claim, underwriters agreed to dismiss AEG from the case and to waive any costs recoverable from AEG.”
The rep, however, says that Lloyds will not be dropping the case against Michael Jackson LLC.