00:00 Lisa Marie Presley Estate is facing a legal battle as a private lending company, Nossany
00:06 Investments and Private Lending LLC, sues for $3.8 million for an unpaid 2018 loan.
00:15 Court documents obtained by OnlinePortal reveal that an IPL alleges Presley failed to settle
00:21 the debt despite having until May 2022 to do so.
00:26 The lending company claims they lost contact with Lisa after March 2022, despite making
00:32 several attempts to collect the outstanding debt.
00:35 To secure the loan, Presley had reportedly put up her ownership stake in Elvis Presley
00:41 Enterprises and the iconic Graceland mansion as collateral, the value of which remains
00:46 undisclosed.
00:49 The reason behind Presley's decision to take out the loan remains unclear at this time.
00:54 However, court records indicate that she had previously borrowed $450,000 from NIPL in
01:01 July 2016, which she promptly repaid the following month.
01:06 NIPL has offered a potential resolution to the legal dispute, stating they will drop
01:12 the case if Presley Estate, now under the control of her daughter Riley, agrees to pay
01:17 $2.85 million, equivalent to 75% of the total debt, within the next 45 days.
01:25 Riley, known for her role in A Daisy Jones and The Six, was recently named the sole trustee
01:31 of a late mother's estate after a legal battle against her grandmother.
01:35 As part of this legal transition, Riley has also been granted ownership of Graceland,
01:41 the historic, mimephouse mansion that once belonged to her legendary grandfather Elvis
01:49 Presley.
01:54 (upbeat music)
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