close
Thursday May 30, 2024

Lisa Marie Presley's estate faces legal battle over unpaid $3.8M loan

Lisa Marie Presley fails to repay $3.8M loan, even after her tragic passing at 54

By Web Desk
September 22, 2023

The estate of the late Lisa Marie Presley finds itself entangled in a legal dispute, with investment and private lending company Naussany Investments & Private Lending, LLC, seeking $3.8 million in a lawsuit. 

Allegedly, Presley failed to fulfill her payment obligations related to a loan obtained in 2018.

Lisa Marie Presley, who tragically passed away on January 12, 2023, at the age of 54 due to complications stemming from a small bowel obstruction resulting from prior weight-loss surgery, had opioids in her bloodstream at the time of her demise.

According to court documents obtained by DailyMail, the loan in question was acquired by Presley in May 2018, with her ownership stake in Elvis Presley Enterprises and Graceland offered as collateral. The exact purpose behind the loan remains undisclosed.

Furthermore, the lawsuit asserts that Presley had borrowed $450,000 in July 2016, a debt that was reportedly repaid in full within the following month.

It has come to light that Presley had signed a letter agreeing to repay the $3.8 million loan in full by May 16, 2022. 

However, according to attorneys representing Naussany Investments & Private Lending, LLC (NIPL), they allegedly lost contact with Presley after March 2022, despite their purported efforts to communicate and collect the outstanding debt.

As part of the ongoing legal wrangle, NIPL has offered a potential resolution: they are willing to drop the case if Lisa Marie Presley's estate, which is now under the control of her daughter Riley Keough, repays 75 percent of the loan, amounting to $2.85 million, within 45 days.