Lisa Marie Presley can proceed for now with her probate court petition that alleges her former business manager squandered most of her family fortune, a judge ruled.
Los Angeles Superior Court Judge Robert Wada said during a hearing Monday that he was denying Barry Siegel’s motion to strike Presley’s petition, but that he was doing so “without prejudice,” meaning Siegel can raise the issues again later if it makes sense to do so.
Presley, 50, alleges her $100 million fortune was pared to five figures because Siegel acted in his own best interests in making business decisions.
In their court papers asking that the petition be dismissed, Siegel’s lawyers called the it “a mislabeled complaint for damages” brought in probate court instead of civil court, where Siegel would have the right to a jury trial.
Presley’s lawyers stated in their court papers that the probate court is “the only tribunal that can adjudicate” her claims because they involve the decisions made by Siegel in his role as a former trustee of the Presley trust and because she wants an accounting of the trust.
Wada set another hearing on Presley’s petition for July 30.
Presley is a singer-songwriter and is the only child of Elvis Presley and Priscilla Presley. She also is the sole heir to her father’s estate.