Michael Jackson 'owed tens of millions'

Legal documents filed by the executors of Michael Jackson's estate show that the late singer had accumulated tens of millions of debt prior to his death.

According to the papers obtained by TMZ, the executors of Jackson's estate successfully turned around his finances by restructuring debts and generating revenue from merchandise.

The documents also show that This Is It, the documentary made from footage recorded during rehearsals for Jackson's O2 residency, grossed $260m (£165m) on its release last year.

Additional revenue was generated by renegotiating his royalty agreements and releasing the This Is It album. The record sold five million copies in 2009, making it the third biggest album of the year.

Jackson died in June 2009 aged 50, weeks before undertaking a string of shows at London's O2 arena. Recently, his mother Katherine filed a civil action against concert promoters AEG, implicating them in his death.