Michael Jackson was more than $500m (£395.3m) in debt when he died in 2009, new court documents allege.

The King of Pop was in a deep financial hole when he died aged 50 of acute propofol intoxication, according to a petition the executors of his estate filed in Los Angeles County Superior Court and seen by Sky's US partner network NBC News.

"At the time of Michael Jackson's death, Michael Jackson's most significant assets were subject to more than $500 million of debt and creditors' claims, with some of the debt accruing interest at extremely high interest rates, and some debt in default," the filing said.

Jackson was also facing lawsuits in several states and countries when he died, the petition said. More than 65 creditors' claims had been filed, which prompted more lawsuits.

The executors, however, have settled or disposed of most of the creditors' claims and litigation, the filing said.

Jackson's physician Dr Conrad Murray, was found guilty of involuntary manslaughter in 2011 for providing the drug that killed the singer.