After a massive win for the Elvis Presley estate, Riley Keough, the inheritor of Graceland, reacted to their team's victory against the supposed foreclosure sale of the mansion.
A source told People Magazine that Keough is "appreciative of the swift legal actions" that have halted the property's foreclosure sale.
"She was initially pretty shocked and confused, but everything is all good for now. She'll do anything to protect Graceland," the source added.
Keough's win came after Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the supposed auction that has since been scheduled in Memphis, Tennessee. The injunction temporarily upholds Keough's previous restraining order on the foreclosure sale filed into motion by Naussany Investments & Private Lending LLC.
In September 2023, it was reported that the Promenade Trust, which effectively controls the Graceland Museum, allegedly owes Naussany Investments a whopping $3.8 million after failing to repay a 2018 loan.
They alleged that the late Lisa Marie Presley, Keough's mother, had used the famous Memphis tourist spot as "collateral" for the loan, hence the public sale notice.
Read also: Riley Keough's Graceland Auction Update: FBI To Step In and Investigate Amid Fraud Concerns
ABC News reported that someone from Naussany said they would drop their claim following the injunction. The Associated Press reported that Nausanny Investments revealed that the key document in their case was obtained in a different state, meaning the legal action would have to be filed in multiple states.
"The company will be withdrawing all claims with prejudice," Naussany said in a statement.
Through her lawsuit, Keough has since called the documents presented by the company as "fraudulent."
"Lisa Maria Presley never borrowed money from Naussany Investments and never gave a deed of trust to Naussany Investments," Keough's lawyer said in their lawsuit.
Judge Jenkins saw the institution's importance to the city and the state and ruled in favor of the Presley estate.
"The court will enjoin the sale as requested because, one, the real estate is considered unique under Tennessee law. And in being unique, the loss of the real estate would be considered irreparable harm," Jenkins said in a statement, as reported by WREG Memphis. "Graceland is part of this community and well loved by this community and around the world."
© 2024 MusicTimes.com All rights reserved. Do not reproduce without permission.
