MEMPHIS, Tenn. (AP) — Actor Riley Keough, the granddaughter of Elvis Presley, is opposing the public auction of his Graceland estate in Memphis following attempts by a company to sell the property due to an unpaid loan that used the iconic musician’s former home as collateral.
A public auction for the estate was set for Thursday this week, but was halted by a Memphis judge after Keough filed a lawsuit and sought a temporary restraining order, as revealed in court documents.
An earlier public notice for a foreclosure sale of the 13-acre estate stated that Promenade Trust, which controls the Graceland museum, owed $3.8 million from a 2018 loan that had not been repaid. Keough inherited the trust and ownership of the home after the passing of her mother, Lisa Marie Presley, last year. The lawsuit noted that Lisa Marie Presley had used Graceland as collateral for the loan.
Naussany Investments and Private Lending claimed that Lisa Marie Presley failed to repay the loan and moved to sell the estate at a foreclosure sale. Keough, representing the Promenade Trust, filed a lawsuit alleging that Naussany had presented fraudulent documents pertaining to the loan and unpaid sum in September 2023.
“Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments,” stated Keough’s lawyer in the lawsuit. The notary, Kimberly Philbrick, whose name appeared on the documents, denied ever meeting Lisa Marie Presley or notarizing any documents for her.
An injunction hearing is planned for Wednesday at Shelby County Chancery Court. Elvis Presley Enterprises Inc. stated on Tuesday that the claims of foreclosure were fraudulent and that the counter lawsuit was filed to halt the deceit.
Graceland, which opened as a museum and tourist attraction in 1982, serves as a tribute to Elvis Presley, drawing in crowds of visitors each year.
Associated Press reporters Sarah Brumfield in Silver Spring, Maryland, and Heather Hollingsworth in Mission, Kansas, contributed to this story.
This story has been corrected to reflect that Russell is a lawyer for Keough, not Naussany Investments.
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