A judge Friday rejected claims by Lisa Marie Presley’s former business manager that filing an accounting of his expenses while serving as her money manager would be too costly and should be limited in scope.
Los Angeles Superior Court Judge Robert Wada said Barry Siegel’s lawyers had not provided any new information in support of their request for reconsideration of his previous ruling ordering the accounting. The judge did agree, however, to allow an extension of the deadline by which Siegel must file the information from Nov. 29 to March 4.
On July 30, Wada told lawyers for Siegel — who Presley accuses of squandering much of her family fortune — that they must provide an accounting covering the period of January 2004 until the end of February 2016. In their recent court papers, Siegel’s lawyers said the order was too burdensome because it would cost about $360,000. They also say that 10 attorneys have been working on the accounting around-the-clock and that the Presley estate must ultimately pay for the cost of the accounting.
They additionally claim that Presley’s attorneys never filed a motion requesting the accounting, but instead made their request during the July hearing and that it was granted.
However, Presley attorney Justin Gold said Siegel’s lawyers had notice in the original Presley petition that an accounting would be sought, yet no objections were offered at that time.
Presley, 50, alleges her $100 million fortune was pared to five figures because Siegel acted in his own best interests in making business decisions.
On July 23, Siegel countersued Presley, claiming she owes him $800,000 in additional fees.
Presley, a singer-songwriter, is the only child of Elvis and Priscilla Presley. She also is the sole heir to her father’s estate.
Siegel’s lawyers blame Presley for her financial woes, stating in their court papers that she had an “inability to rein in her lavish lifestyle despite being told repeatedly that she could not afford it.”