Additional Coverage:
- Judge in Tennessee blocks effort to put Elvis Presley’s former home Graceland up for sale (newsbreak.com)
The legal battle against the auction of Elvis Presley’s iconic Graceland estate in Memphis is spearheaded by the music legend’s granddaughter. A corporation seeking to auction the property claims a defaulted loan secured by Graceland as collateral is the cause. Riley Keough, an actress, alleges these claims are baseless and deceptive.
In Memphis, Tennessee, a significant development unfolded as a judge ordered a temporary halt on the auctioning of Graceland, a key tourist spot and the former residence of Elvis Presley. Shelby County Chancellor JoeDae Jenkins, by issuing a temporary injunction, blocked the foreclosure sale that was set to happen on Thursday. This injunction builds upon a restraining order that was put in place following a lawsuit by Elvis’s granddaughter, Riley Keough, against what she describes as a fraudulent auction scheme.
During proceedings, Chancellor Jenkins highlighted Graceland’s significant cultural and community value, noting its worldwide adoration.
The dispute began with a public notice in May, which claimed the Graceland museum-controlled Promenade Trust owed $3.8 million from an unrepaid 2018 loan. Keough, who took over the trust and the estate following her mother Lisa Marie Presley’s demise last year, found herself at odds with Naussany Investments and Private Lending. They alleged Lisa Marie Presley had used Graceland as security for the loan, claims Keough’s lawsuit dismissed as fabricated.
Keough’s legal challenge asserts that Lisa Marie never engaged in any borrowing from Naussany Investments nor granted them a deed of trust, a point emphasized by her attorney.
The court session did not feature appearances from Keough or representatives from Naussany Investments, with Keough’s lawyer acknowledging a lack of direct dialogue with the investment firm.
Naussany’s effort to counter the estate’s injunction request did not succeed. Further establishing the estate’s position, a notary named Kimberly Philbrick, cited in Naussany’s paperwork, denied ever encountering Lisa Marie Presley or processing any documents on her behalf, thus raising doubts about the documents’ legitimacy.
With evidence of alleged document fraud hinted, the judge suggested Keough’s side might convincingly demonstrate the claims’ falsehood, leaving room for Naussany to address these allegations.
Graceland, transformed into a museum and visitor center in 1982 as homage to Elvis, who passed away in 1977, attracts vast numbers annually. An adjoining Elvis-themed complex is managed by Elvis Presley Enterprises, which reassured that Graceland would continue welcoming visitors from globally, maintaining its high standards of operation.