In "You still haven't seen my best move yet" news, the dancing homey Mike Jackson is trying to moonwalk out of a bad situation. The Jewelry Man is informed that the King Of Pop is said to be close to cutting a deal that would allow him to avoid bankruptcy by refinancing millions of dollars in loans. Oh really? Sounds like Mike's about to perform a jig for the camera one more time, huh EbenGregory? Yes. As part of the deal, Jackson would reportedly agree to offer Sony the chance to acquire half of his stake in the Sony/ATV Music Catalog--a prized asset, which includes scores of Beatles hits, as well as songs by Elvis Presley and Bob Dylan. Jackson and Sony currently each own 50 percent of the catalog, which is valued at an estimated $1 billion. Jackson purchased his half for $48 million in 1985. First Neverland.now the catalog. Here's the funny: Jackson used the song catalog as part of the collateral against $270 million in loans from Bank of America. But last year, Bank Of America sold off the loans to Fortress Investment Group, a New York based investment-company that buys distressed debt, which in turn gave Jackson an extension on his payment plan. As part of the new deal, Fortress would provide Jackson with a new $300 million loan and reduce his interest payments. That's it. We really don't care EbenGregory. What we would care about is a story on Mike Jackson and his three-legged monkey's. Just bring the jewelry out. Okay. Here's some estate sale jewelry being dropped by EbenGregory on Mike Jackson re-structuring his deal to avoid financial ruin: Those who flee a debt generally leave a forwarding address. Especially when you wear a white glove.

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