Cash McCall – The Blues

It’s a tragic loss and an accounting nightmare for the promoters of Michael Jackson’s doomed 50-night “This is It” concert extravaganza in London.

More than 750,000 fans are waiting for details on ticket refunds, and the British government’s consumer protection board told them Monday not to hold their breath complex legal issues need to be worked out first.

“The advice we’re giving is that it may take a little while because it was quite a large ticket distribution,” said Frank Shepherd, spokesman for Consumer Direct. “We’re advising people to be a bit patient.”

In addition, he said ticket holders may not be able to reclaim fees paid to sellers, which in some cases reached $16 per ticket.

The skirmishing over refunds is just one aspect of what is likely to be years of legal wrangling over financial matters, including Jackson’s considerable debts, assets and custody of his three children. The battles are likely to dwarf earlier fights for the control of assets left by other departed rock gods, including guitar hero Jimi Hendrix and reggae trailblazer Bob Marley.

Legal arguments over whether insurance companies must shoulder much of the financial burden caused by Jackson’s death are expected to slow the refund process, experts said.

Promoters are generally required to take out insurance to cover concert cancellations or non-appearances, said Malcolm Tarling, a spokesman for the Association of British Insurers.

Many of the policies are extremely specific, allocating levels of payouts according to the reason for the cancellation including the cause of any death. If a drug overdose was specified as a risk with lower coverage, AEG may be entitled to less money.

Los Angeles-based tour operator AEG Live, which operates the 02 Arena where Jackson was to have performed, said ticket refund details should be announced this week

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