Lisa Marie Presley's Estate Sued Over $3.8 Million Loan _ E! News
Lisa Marie Presley's Estate Sued Over $3.8 Million Loan _ E! News
Transcript
00:00 Lisa Marie Presley's estate is facing more legal trouble.
00:04 Nosony Investments and Private Lending LLC filed a lawsuit on September 18,
00:10 alleging that the late singer, the daughter of Elvis and Priscilla Presley,
00:15 failed to pay back a $3.8 million loan before her death in January.
00:20 In their filing, obtained by E! News, the company alleges that Lisa Marie took out the loan in May
00:26 2018 and used her ownership stake in Elvis Presley Enterprises and Graceland,
00:33 her father's former home in Memphis, Tennessee, as collateral.
00:36 Lisa Marie had until May 16, 2022, to pay off the $3.8 million, according to documents provided in
00:45 the lawsuit, or risk them filing the deed of trust that was signed and notarized under an agreement
00:52 to pay off the loan by the due date. Nosony Investments and Private Lending LLC states in
00:58 their filing that they had not had contact with Lisa Marie since March 2022 and that several of
01:05 their letters mailed to her business address in the Los Angeles area were refused and returned.
01:11 The group says in the lawsuit they would agree to a potential settlement arrangement
01:16 that would avoid further legal action if her estate pays at least 75 percent of the loan balance,
01:23 or $2.85 million, within 45 days. Lisa Marie died at age 54 in January from complications
01:32 resulting from small bowel obstruction, County of Los Angeles Medical Examiner records showed.
01:38 Following her death, a judge approved her eldest child, Riley Keough, to become the
01:43 sole heir of her estate and the new owner of Graceland, ending a legal dispute over her will
01:50 that her mother had brought into question. But despite the disagreement over the estate,
01:54 Priscilla made it clear that she has nothing but love for her eldest grandchild.
01:59 In an interview published in August, she told The Hollywood Reporter,
02:03 "Riley and I are on good terms. We were never not on good terms. That was all publicity. This is
02:09 private and this is not something to fool around with and say that we're not agreeing."
02:14 E! News has reached out to reps for both Lisa Marie's estate and Riley, but has not heard back.
02:20 Riley, right here.
02:22 Riley, go to work. Go to work.
02:24 Smile, Riley. Make smiles.
02:26 (music)