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Elvis's Granddaughter Fights to Keep Graceland: Auction Stopped

Thursday, May 23, 2024 • Tamil Comments
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Riley Keough won a major court battle to stop Graceland's foreclosure. Tennessee judges issued temporary injunctions on the following day's auction on Wednesday. This injunction stops the sale until a hearing verifies estate ownership. Shelby County Chancellor JoeDae Jenkins ruled in favor of Keough, who became Elvis Presley's Memphis estate trustee after her mother, Lisa Marie Presley, died in 2023.

Naussany Investments & Private Lending had to cancel the auction by injunction. Naussany said the sale intended to repay Lisa Marie's 2018 $3.8 million Graceland loan. Keough filed a lawsuit last week calling the sale “fraudulent,” claiming her mother never borrowed money from Naussany Investments or gave them a deed of trust.

Keough also sought a restraining order against the creditor to stop the non-judicial transaction. Naussany Investments was “created to defraud” her mother's Promenade Trust, she said, with Lisa Marie's signature faked on loan documents. The notary on the documents also denied meeting Lisa Marie.

Keough's claims are supported by Graceland manager Elvis Presley Enterprises, which calls the foreclosure illegitimate. Elvis's ex-wife and Keough's grandmother, Priscilla Presley, termed it a “scam.”

After her mother's death and a brief court fight with Priscilla, Keough took over Graceland, Elvis's things, and 15% of Elvis Presley Enterprises last year. Naussany Investments sued the estate in September, alleging Lisa Marie defaulted on the May 2022 loan. They promised to drop the action provided the estate paid 75% of the amount, $2.85 million, within 45 days.

Lisa Marie's daughters from her marriage to musician Michael Lockwood, Finley and Harper Lockwood, depend on Keough for estate and sub-trust management.

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