The Estate Of The Late Lisa Marie Presley Is Being Sued By A Private Lending Company Over A $3.8 Million Loan Obtained In 2018
ET recently obtained court documents regarding a lawsuit against Lisa Marie Presley‘s estate. A private lending company called Naussany Investments & Private Lending, LLC filed suit against the estate over a $3.8 million loan Lisa Marie obtained before her death on January 12, 2023.
According to claims in the court documents, Lisa Marie used her ownership stake in Elvis Presley Enterprises and Graceland as collateral to obtain the loan. NIPL, LLC alleges Lisa Marie originally borrowed $450,000 from the company under similar terms in 2016. She repaid that loan in full less than a month later.
Then, Lisa Marie took out a second loan in May 2018. Based on the court documents cited by ET:
“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.”
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.https://t.co/hjK9x5lCxV
— Entertainment Tonight (@etnow) September 21, 2023
The Lending Company Proposed A Settlement To Lisa Marie’s Trustee
In the documents, NIPL, LLC alleges they had no contact with Lisa Marie after March 23, 2022. The company claims their efforts to collect on her debt were brushed off.
NIPL, LLC is willing to agree to a settlement agreement with the estate’s trustee. That trustee is Lisa Marie’s eldest daughter, Riley Keough.
Riley was named the sole trustee of her mother’s estate back in August. She and her grandmother, Priscilla Presley, reached a settlement agreement over the estate after some previous contention.
The court documents show NIPL, LLC will not proceed with legal action against Lisa Marie’s estate if the trustee (Riley) agrees to pay 75% of the $3.8 million loan in full. This means the estate would need to pay NIPL, LLC $2.850 million within 45 days.
Stay tuned for any further developments concerning this story.