Lisa Marie Presley’s estate is being sued by a private lending company over a $3.8 million loan.
Lisa Marie Presley’s estate is being sued by a private lending company over a $3.8 million loan
The action comes after the late singer, who died in January aged 54 when she suffered a double heart attack and bowel obstruction, allegedly failed to pay off a 2018 loan.
Naussany Investments and Private Lending, LLC claims Elvis Presley’s only daughter had until May 2022 to pay off the loan in full, according to court documents obtained by Entertainment Tonight.
They add the company had no contact with the singer after March 2022 despite allegedly trying to get in touch several times.
They also state Lisa Marie put up her ownership stake in Elvis Presley Enterprises and Elvis’ Graceland home as collateral, but it is a mystery why she took the loan.
The lending company also claims Lisa Marie previously borrowed $450,000 from them in July 2016 – but they admitted she paid that off in full the following month.
NIPL, LLC have said they will drop the case if Lisa Marie’s estate, which which is now under the control of her actress daughter Riley Keough, 34, agrees to pay $2.85 million – or else 75 per cent of the outstanding debt, within 45 days.
Riley was named sole trustee of her late mum’s estate in August after a fierce legal battle with her grandmother Priscilla Presley, 78, who had Lisa Marie during her tortured six-year marriage to Elvis from 1967 to 1973.
The ‘Daisy Jones and the Six’ actress was also granted ownership of Graceland, where her grandad Elvis was buried following his death aged 42 in 1977, after years of tranquiliser pills abuse.
Riley now oversees the “sub-trusts” for her 14-year-old half-sisters, Harper and Finley, who Lisa Marie had with her guitarist second husband Michael Lockwood, 62.
Priscilla is serving as a paid special adviser to the trust, and her settlement over Lisa Marie’s estate with Riley allowed her to be buried next to Elvis at Graceland, despite her initial request being denied.
Riley is reported to have paid her grandmother more than $1 million before they settled their legal dispute in June.
Their battle started after Lisa Marie’s death when Priscilla contested “the authenticity and validity” of her late daughter’s will.
But Priscilla insisted throughout the feud she was “never” on bad terms with Riley, and in August told The Hollywood Reporter: “Riley is now the executor, which should be right, obviously, being her daughter.
“Riley and I are on good terms. We were never not on good terms. That was all publicity… I’m there for her. She knows that. She wants me there for her to help her.”
Tagged in Elvis Presley Priscilla Presley Lisa Marie Presley