According to E! News, Naussany Investments & Private Lending LLC recently filed a lawsuit claiming Lisa Marie, the late daughter of rock ’n’ roll legend Elvis Presley, took out the loan in question in May 2018 and failed to pay it back before her passing.
The 54-year-old entertainer died unexpectedly earlier this year, on January 12, after suffering cardiac arrest related to a bowel obstruction.
According to the company, she used her ownership stake in Graceland and Elvis Presley Enterprises as collateral for the loan, which she was required to pay off by May 16, 2022.
The company says it had no contact with Presley after March 2022 and that many attempts to reach her business address by letter were refused and returned.
It’s unknown why Presley took out the loan.
Page Six reports that Naussany Investments will drop the lawsuit if the estate pays 75% of the debt owed, or roughly $2.85 million, within 45 days.
Representatives for Keough haven’t responded for comment.
Keough, the daughter of Lisa Marie and musician Danny Keough, was named the sole trustee of her mother’s estate in early August, ending a months-long legal dispute with her grandmother Priscilla, who was married to Elvis from 1967 to 1973.
Priscilla filed a legal challenge over an amendment to Lisa Marie’s will that replaced her as a co-trustee with Keough and her late brother, Benjamin.
The estate includes control of Graceland and a 15-percent stake in Elvis Presley Enterprises.
While reports said the battle left the family members on non-speaking terms, the two sides reached a settlement agreement this May. Keough took control of the estate and Priscilla reportedly received a lump sum payment of $1 million, plus money to cover her legal fees.
Reference: Biography (Sep. 22, 2023) “Riley Keough Is Dealing with More Legal Drama Over Her Late Mother’s Estate”