Lisa Marie Presley’s estate is facing a £3.1million ($3.8million) lawsuit over an unpaid loan.
The singer died from a small bowel obstruction caused by a weight loss surgery in January this year, leaving her estate in the hands of her daughter, actress Riley Keough.
However, at the time of her death, she had not paid off a loan she had taken out in 2018.
According to DailyMail, who gained access to the lawsuit’s court documents, Lisa Marie had taken a loan from Naussany Investments & Private Lending LLC for an undisclosed reason.
She then used her stake in Elvis Presley Enterprises and Graceland as collateral.
As per the agreement, the company claims Lisa Marie was due to pay the debt off by 16 May 2022, however, she went quiet on the company that March and became uncontactable.
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The company stated Lisa Marie had previously used their services for a £367,000 ($450,000) loan in 2016, and repaid the debt within the space of a month.
In light of the debt, the company has stated they’ll drop the lawsuit if the estate repays 75 percent of the loan within the next 45 days.
Daily Express US has contacted Keough’s representatives for comment and clarification.
The new lawsuit comes just two months after an argument over control of the estate.
While it is now in the hands of Keough, Priscilla Presley – Lisa Marie’s mother and Keough’s grandmother – contested the will’s wishes.
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Two weeks after Lisa Marie’s death, Priscilla filed a legal challenge after her control of the estate – the Promenade Trust – was removed and given to Keough.
However, in a later motion, Priscilla said that a “fight” between her and Keough was “misconstrued” and the legal team had since been fired.
“I filed the petition to resolve all potential uncertainty surrounding the interpretation of the Promenade Trust,” she stated in a new filing.
“My daughter’s passing was both devastating and heartbreaking. We have learned that the fans realize that we are ‘Just A Family’.”
“Elvis would be proud and his and Lisa’s wishes are what are most important to all of us,” she added.
“My grand-daughter, through her own counsel, along with my team, worked diligently and tirelessly to resolve all misunderstandings as a family.”
The case was eventually settled with Priscilla relinquishing control of the estate in exchange for £1.1million ($1.4million) and a private financial agreement for the next 10 years.
She will be keeping her advisory role with the trust and will be granted her wish to be buried at Graceland.
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