Lisa Marie Presley’s estate is facing a legal battle as a private lending company, Naussany Investments & Private Lending, LLC (NIPL), sues for $3.8 million over an unpaid 2018 loan. Court documents obtained by Entertainment Tonight reveal that NIPL alleges Presley failed to settle the debt, despite having until May 2022 to do so.
The lending company claims they lost contact with Lisa Marie Presley after March 2022, despite making several attempts to collect the outstanding debt. To secure the loan, Presley had reportedly put up her ownership stake in Elvis Presley Enterprises and the iconic Graceland mansion as collateral, the value of which remains undisclosed.
The reason behind Presley’s decision to take out the loan remains unclear at this time. However, court records indicate that she had previously borrowed $450,000 from NIPL in July 2016, which she promptly repaid the following month.
NIPL, LLC has offered a potential resolution to the legal dispute, stating that they will drop the case if Presley’s estate, now under the control of her daughter Riley Keough, agrees to pay $2.85 million, equivalent to 75 percent of the total debt, within the next 45 days.
Riley Keough, known for her role in “Daisy Jones & the Six,” was recently named the sole trustee of her late mother’s estate after a legal battle against her grandmother, Priscilla Presley. As part of this legal transition, Keough has also been granted ownership of Graceland, the historic Memphis mansion that once belonged to her legendary grandfather, Elvis Presley.
Additionally, Riley Keough has assumed oversight of the sub-trusts established for her 14-year-old half-sisters, Harper and Finley. Meanwhile, Priscilla Presley, aged 78, will now serve as a paid special adviser to the trust. This settlement also granted Priscilla’s wish to be buried next to her late husband, Elvis Presley, despite an initial denial of her request.
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Read on Lehren – Lisa Marie Presley’s Estate Faces $3.8 Million Lawsuit Over Unsettled 2018 Loan