Company withdraws claim on Graceland after judge blocks effort to put Elvis Presley’s former home up for sale

MEMPHIS, Tenn. (WMC/Gray News) - The investment company has withdrawn its claims on Graceland after a judge blocked the auction of Elvis Presley’s former home.

Naussany Investments and Private Lending LLC withdrew all claims on Graceland on Wednesday with prejudice. In a lawsuit filed in 2023, the company claimed Lisa Marie Presley, Elvis Presley’s daughter had used the property, along with Elvis Presley Enterprises, as collateral in a loan that was not paid back.

Riley Keough, Elvis Presley’s granddaughter, inherited Promenade Trust, which controls the Graceland Museum, after the death of her mother Lisa Marie Presley.

Naussany said in a statement that they meant no harm toward Keough.

A public notice for a foreclosure sale of the 13-acre estate was posted earlier in May. The foreclosure notice claimed Promenade Trus owed $3.8 million after failing to repay the 2018 loan.

The auction of Graceland was set to take place Thursday but was blocked by Shelby County Chancellor JoeDae Jenkins, who issued a temporary injunction against the auction. According to the Associated Press, Jenkins’ injunction keeps in place a previous restraining order he had issued.

The judge’s actions come after Keough had filed a lawsuit fighting against the auction and Naussany’s claims which Keough said was a fraudulent scheme, according to the Associated Press.

In the lawsuit filing, Keough’s lawyer said Lisa Marie Presley “never borrowed money from Naussany Investments” and “never gave a deed of trust to Naussany Investments.”

The lawsuit filing also alleges the company is “not a real entity” and, according to The Associated Press, adds that it presented fraudulent documents regarding the loan in September 2023. It alleges that documents showing Lisa Marie’s signature on the loan and deed are “forgeries.”

The Associated Press also reported that Kimberly Philbrik, the notary whose name is listed on the alleged documents presented by Nassauny, indicated that she had never met Lisa Marie Presley nor notarized any documents for her.

Copyright 2024 WMC via Gray Media Group, Inc. All rights reserved. The Associated Press contributed to this report.