The late Lisa Marie Presley’s estate is the target of a $3.8 million lawsuit that claims the late singer never paid off a 2018 loan.
In court documents obtained by Entertainment Tonight, private lending company Naussany Investments & Private Lending, LLC claimed Presley took out the loan in May 2018. She used her ownership stake in Elvis Presley Enterprises and Graceland as collateral.
NIPL claimed that Lisa Marie — who died in January at age 54 — first borrowed $450,000 in July 2016. That loan was repaid in full less than one month later. She took out the second loan for $3.8 million in 2018 and agreed to pay it off in full by May 16, 2022, per a promissory note signed by the late singer.
In the court docs, attorneys for NIPL claimed the company had no contact with Lisa Marie after March 23, 2022. The company will agree to settle for less than the full $3.8 million due if the estate repays 75 percent — or $2.85 million — of the loan within 45 days.
The lawsuit is the latest in a series of legal battles over Lisa Marie’s estate. After her death, her mother, Priscilla Presley, and daughter Riley Keough fought in court over who should take control of the estate. The duo agreed to a settlement in May, with Priscilla, 78, receiving a one-time sum of $1 million from the account and Keough, 34, becoming sole trustee. Lisa Marie’s 14-year-old twin daughters, Finley and Harper, were named sub-trustees.
Lisa Marie was the only daughter of Priscilla and Elvis, who died in 1977 at age 42. Priscilla later welcomed son Navarone Garibaldi, now 36, with ex-partner Marco Garibaldi.
Earlier this year, Keough revealed that her mom’s death caused “a lot of chaos” in her family. “Everything felt like the carpet had been ripped out and the floor had melted from under us,” she told Vanity Fair in August. “Everyone was in a bit of a panic to understand how we move forward, and it just took a minute to understand the details of the situation, because it’s complicated.”
Keough went on to say that her relationship with her maternal grandmother had improved after the estate drama. “There was a bit of upheaval [after my mom died], but now everything’s going to be how it was,” she explained. “[Priscilla’s] a beautiful woman, and she was a huge part of creating my grandfather’s legacy and Graceland. It’s very important to her. He was the love of her life.”
