Michael Jackson was over P29 billion in debt at the time of his death—court documents

Court documents revealed that Michael Jackson was more than $500 million (P29 billion) in debt when he passed away in 2009.

According to a report by NBC News, a filing at the Los Angeles County Superior Court indicated that the late singer's "most significant assets were subject to more than $500 million of debt and creditors’ claims, with some of the debt accruing interest at extremely high interest rates, and some debt in default" at the time of his death.

The "King of Pop" passed away due to acute propofol intoxication in June 2009 at 50 years old. He was preparing for his concert tour This is It then, which was slated to have around 50 shows.

The filing showed that his property was financially liable for $40 million (over P2 billion) to AEG, the tour's official promoter.

NBC News reported that the petition requests that "money from Jackson's estate be used to reimburse the executors’ attorneys for legal services and other expenses in 2018."

The documents also noted that Jackson was facing legal complaints in different states and countries when he died, with claims filed by over 65 creditors that led to additional lawsuits. "The executors, however, have settled or disposed of most of the creditors’ claims and litigation," the filing said, according to the media outlet.

Jackson became famous for the hit songs Beat It, Thriller, Bad, You Are Not Alone, and Man in the Mirror, among many others.

NBC News reported that two years after Jackson's death, his physician, Dr. Conrad Murray, was found guilty of involuntary manslaughter for providing the aforementioned drug to him.