Tennessee Judge Blocks Foreclosure Sale of Graceland

Temporary injunction means no one is buying the King's old digs on Thursday
By Newser Editors and Wire Services
Posted May 22, 2024 10:00 AM CDT
Tennessee Judge Blocks Auction of Graceland
Fans wait in line outside Graceland Tuesday, Aug. 15, 2017, in Memphis, Tenn. A public auction for the estate had been scheduled for Thursday, May 23, 2024, but a Memphis judge blocked the sale after Presley’s granddaughter Riley Keough sought a temporary restraining order and filed a lawsuit.   (AP Photo/Brandon Dill, File)

A Tennessee judge on Wednesday blocked the auction of Graceland, the iconic former home of Elvis Presley, by a company that claimed his estate failed to repay a loan that used the property as collateral. As the AP reports, Shelby County Chancellor JoeDae Jenkins issued a temporary injunction against the proposed auction that had been scheduled for Thursday. Jenkins' injunction essentially keeps in place a previous ruling that he'd issued after Presley's granddaughter Riley Keough filed a lawsuit to fight off what she said was a fraudulent scheme.

A 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. Keough, an actor, inherited the trust and ownership of the home after the death of her mother, Lisa Marie Presley, last year. 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. Neither Keough nor lawyers for Nassauny Investments were in court on Wednesday.

(More Graceland stories.)

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