Lisa Marie Presley’s estate is being sued by a private loan company for $3.8 million after the late singer allegedly failed to repay a 2018 loan.
Naussany Investments & Private Lending, LLC claims Presley had until May 2022 to repay the loan in full, according to court documents obtained by Entertainment Tonight.
They claim they had no contact with Presley, who died in January, after March 2022 – although they allegedly attempted to collect the debt several times.
According to court documents, Presley put up his stake in Elvis Presley Enterprises and Graceland as collateral.
It is unclear why she took out this loan.
The lending company claims Presley previously borrowed $450,000 from them in July 2016, which she repaid in full the following month.
NIPL, LLC said it would drop the case if Presley’s estate — which is now under the control of his daughter Riley Keough — agreed to pay $2.85 million, or 75 percent of the total debt, in the 45 days.
Representatives for Keough did not immediately respond to Page Six’s request for comment.
The “Daisy Jones & the Six” star was named sole trustee of her late mother’s estate last month following a legal battle with her grandmother Priscilla Presley.
The 34-year-old actress also gained ownership of Graceland, the iconic Memphis mansion once owned by her grandfather Elvis Presley.
Additionally, Keough now oversees the subtrusts of his 14-year-old half-sisters, Harper and Finley.
Meanwhile, Priscilla, 78, will now serve as a paid special adviser to the trust. The deal also allowed her to be buried next to her late husband, although her initial request was denied.
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In order to reach a settlement, Keough reportedly paid his grandmother more than $1 million before settling their legal dispute in June.
The drama between the two began just after Lisa Marie’s death when Priscilla challenged the “authenticity and validity” of her late daughter’s will.
Despite the legal battle, Priscilla maintained that she had “never” been on bad terms with Keough.
“Riley is now the executor, which obviously should be right given that she’s his daughter,” Priscilla told The Hollywood Reporter last month. “Riley and I are on good terms. We were never on good terms. It was just advertising.
She continued: “I actually have dinner with [Riley] This evening. We understand what needs to be done. I’m here for her. She knows it. She wants me there to help her.