HOLLYWOOD, CA - SEPTEMBER 25: Priscilla Presley attends IRIS, A Journey Through the World of Cinema by Cirque du Soleil premiere Sunday, September 25, 2011 exclusively at Kodak Theatre in Hollywood, California. (Photo by Kevin Winter/Getty Images for Cirque du Soleil)
A Tennessee judge has intervened to block a planned auction of Graceland, the legendary home of music icon Elvis Presley.
The decision comes amid a complex legal dispute between Presley’s granddaughter, actress Riley Keough, and a company that claimed ownership of the property.
The saga began when the company Naussany Investments alleged that Presley’s estate had failed to repay a $3.8 million loan, for which the Graceland compound had been used as collateral. Naussany Investments planned to sell the property at an auction this Thursday.
However, Keough, who inherited Graceland and much of Presley’s estate after her mother, Lisa Marie Presley, died last year, contested the legality of the loan paperwork. She claimed her mother’s signature had been forged and the loan agreement was fraudulent.
On Wednesday, Shelby County Chancellor JoeDae Jenkins responded swiftly and issued a temporary injunction to halt the proposed auction. This decisive move has preserved the iconic status of Graceland, which has remained a beloved destination for Elvis fans worldwide since it was opened to the public in the early 1980s.
In a statement, Graceland and Elvis Presley Enterprises expressed their satisfaction with the court’s decision. They affirmed that “there was no validity to the claims” and that “Graceland will continue to operate as it has for the past 42 years, ensuring that Elvis fans from around the world can continue to have a best-in-class experience when visiting his iconic home.”
Keough, known for her acclaimed performances in Amazon’s Daisy Jones & the Six and other notable films, has remained tight-lipped about the ongoing legal proceedings. Her lawyer declined to comment on the pending litigation.
The preservation of Graceland, a hallmark of American music history and a cherished cultural landmark, is a testament to the resilience of Presley’s legacy and the determination of his family to protect his enduring legacy.
Last June, Keough agreed to pay her grandmother, Pricilla Pressley, $1 million to settle a lawsuit against the estate.
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