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A last-minute bankruptcy filing has put a pause on the court-ordered sale of about 120 original artworks by Micheal Jackson, some of which are rumoured to be fake.

King’s Auctions in Las Vegas was planning on auctioning off the works, described as a “museum collection”, in order to satisfy a $3.25 million (R58 million) debt owed to a Dallas-based firm Vinson Investments.

Some of the proceeds of the sale would have gone to Vinson, who was listed among the 20 largest creditors – which also included iconic singer Cher, under the full name Cher Allman, who is owed $1 million (R18 million).

The auction came to a stop when an “entity associated with the owner of the property” suddenly declared bankruptcy, forcing the artworks to be removed from sale.

Jackson’s old friend and artist Sir Brett-Livingstone Strong is the director of the Jackson-Strong Alliance LLC (JSA), which was given the authority to sell the artworks in order to pay off the debt. When Jackson and Strong met for the first time in 1979, they started a casual working connection that continued until the pop icon passed away in 2009. There are strong rumours that, before to his death, Jackson gave him the copyrights to his artwork.

JSA filed for bankruptcy the day before the auction as a last-minute effort to halt the auction and hold on to Michael Jackson’s art collection.

 

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A representative for King’s Auction however said that Strong also filed bankruptcy in 2007 to wipe out $40 million in debt, adding that “there are many questions here regarding the legitimacy of the Friday filing.” Strong’s attorney Brad Patterson, fired back that he is not the bankruptcy counsel and stated that his client has not filed a petition in bankruptcy, but that JSA has done so.

“Although I am not bankruptcy counsel, we look forward to an expedited proceeding and all creditors being paid in full.”

Court documents also reveal that Strong had sought to land an auction with Sotheby’s and Christie’s before King’s Auctions was chosen by Vinson Investments as its preferred auction house for the sale.

The collection has been the focus of a protracted legal dispute and has several chapters, the most recent of which being the sale. Jackson’s watercolour and coloured pencil paintings from the 1990s, depicting everything from Queen Elizabeth to several U.S. presidents, are on display at King’s Auction. A self-portrait at the entrance to the Neverland Royal Theatre is also included.

Certain pieces are done on presidential paper that Jackson was given during a White House visit in 1984, at the president’s invitation, after he permitted his song “Beat It” to be included in a public service message.

Asked what will happen to the artworks now, the King’s representative said: “There will be another auction date set!”

The auction house is however still offering the throne featured during a segment of the 2014 Billboard Awards honouring Jackson. The massive throne entered the stage as the late King of Pop received a posthumous award. With a massive Michael Jackson insignia on top and smoke erupting from below, the throne served as a memorial to Michael Jackson’s enduring influence on fans throughout the globe and his legendary standing in the music business.

 

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However, the Jackson estate has expressed concerns about the authenticity of the pieces up for sale. The estate has raised its concerns to the auction company and does not regard the sketches as legitimate, a spokeswoman for the estate informed TMZ.

“There appears to be substantial hard feelings between the seller of the artwork and the estate that have existed for more than a decade.”

Los Angeles-based attorney Jonathan Steinsapir, who represents Jackson’s estate also claimed there still remain doubts over the artworks.

“Representatives of the estate—all of whom knew Michael—examined this artwork several years ago while it was being stored in a hangar at the Santa Monica airport, and the inspection only raised further concerns. We have made this clear to the auction house and others many times since. The estate asked for evidence that these works were in fact created by Michael, and no sufficient evidence has ever been produced.”

Even though the art is not really that good, doubting its authenticity will likely make serious Jackson collectors think twice before they head to the next auction – if there ever will be one.

[source:artnet]