This week’s Insider Deals are so good you’ll want all of themFILE - Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis, Tenn. The granddaughter of Elvis Presley is fighting plans to publicly auction his Graceland estate in Memphis after a company tried to sell the property based on claims that a loan using the king of rock n roll's former home as collateral was not repaid.
Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed auction that had been scheduled for Thursday this week. Jenkins' injunction essentially keeps in place a previous ruling that he had issued after Presley’s granddaughterA public notice for a foreclosure sale of the 13-acre estate in Memphis posted earlier in May said Promenade Trust, which controls the Graceland museum, owes $3.8 million after failing to repay a 2018 loan.
Naussany Investments and Private Lending said Lisa Marie Presley had used Graceland as collateral for the loan, according to the foreclosure sale notice. Keough, on behalf of the Promenade Trust, alleged in her lawsuit that Naussany presented fraudulent documents regarding the loan in September 2023.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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