In court documents obtained by ET, Lisa Marie obtained the loan in May 2018.
Lisa Marie Presley's estate is being sued by a private lending company claiming the late daughter of Elvis and Priscilla Presley failed to make good on a $3.8 million loan.
In court documents obtained by ET, Naussany Investments & Private Lending, LLC claims Lisa Marie took out the loan in May 2018, and she used her ownership stake in Elvis Presley Enterprises and Graceland, the former home of her father in Memphis, Tennessee, as collateral. Riley Keough and her 14-year-old siblings, twins Harper and Finley Lockwood, inherited Graceland earlier this year after Lisa Marie died on Jan. 12, 2023. She was 54.
NIPL, LLC claims Lisa Marie first borrowed $450,000 under similar lending terms in July 2016, which she repaid in full less than a month later. Lisa Marie took out the second loan in May 2018. The private lender attached two cashier's checks from U.S. Bank made out to Lisa Marie. There's also a promissory note signed by Lisa Marie stating she agreed to pay off the $3.8 million loan in full by May 16, 2022, or risk the private lending company filing the Deed of Trust to the collateral Lisa Marie used to secure the loan.
The court documents state NIPL, LLC had no contact with Lisa Marie after March 23, 2022, and its multiple efforts to collect the debt were rebuffed numerous times.
The private lending company, however, says it is willing to play ball. In the court documents, NIPL, LLC says it will agree to a settlement arrangement and not proceed with legal action if the trustee agrees to pay in full 75 percent of the $3.8 million borrowed, meaning the estate would need to pony up $2.850 million within 45 days.
As ET previously reported, Priscilla Presley and Keough battled in court over who should take control of Lisa Marie's estate. Back in August, the Daisy Jones and The Six star was named the sole trustee of the estate of her late mother. The move was made official when a judge signed off on Keough's June petition to approve the settlement agreement reached between her, her grandmother Priscilla, and Michael Lockwood, the Guardian Ad Litem for the 14-year-old twins. The settlement terms, obtained by ET back in June, will see Keough serve as the sole trustee of her mother's estate and the sub-trusts for her sisters, Harper and Finley.
For her part, Priscilla will serve as Trustee of the sub-trust for her son -- Lisa Marie's half-brother, Navarone Garibaldi -- who will be granted 1/9 of the Trust. The remaining 8/9 of the Trust will be split among Lisa Marie's daughters -- Riley, Finley and Harper.
RELATED CONTENT:
