Jackson sued over Beatles library 'rescue'

A financial company specialising in asset acquisition is suing Michael Jackson, saying it is owed $48m (€39m) in fees for rescuing the singer’s stake in the publishing rights to songs by the Beatles.

Prescient Acquisition Group said in its lawsuit in US District Court in Manhattan that the pop music celebrity enlisted it in November 2004 to provide financial advice and to secure refinancing of a £151m (€219m) debt to Bank of America.