May 13, 2008
Neverland Ranch foreclosure auction canceled
A foreclosure auction scheduled this week for Michael Jackson's Neverland Ranch was canceled after an investment company bought the loan.
Colony Capital LLC spokeswoman Caroline Luz said the loan purchase was recently made by Colony and the auction slated for Wednesday was off, the Los Angeles Times reported Monday.
In a statement released Sunday by a Jackson spokesman who identified himself as B. Michael, the singer said he was 'pleased with recent developments involving Neverland Ranch ... that would allow me to focus on the future.' Read more
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