| Steak n Shake Was Denied
Injunction And Is Now Sued By Wilmington Trust
in SDNY
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- ESPN
SDNY COURTHOUSE,
Sept 15 – Steak n Shake wanted
a mandatory injunction against
its lender and administrative
agent Wilmington Trust NA to
allow it to sell $50 million
in real estate.
On September 1,
2020 U.S. District Court for
the Southern District of New
York Judge Lewis J. Liman held
a proceeding. Inner City Press
covered it.
Steak n Shake
said Wilmington has “refused
to release its security
interest in the real estate
the Company sells, and in
doing so has willfully
breached its obligations under
the Credit Agreement.”
But Judge
Liman after listening for an
hour said that irreparable
harm had not been shown and
declined to grant any
mandatory injunctions.
As is his way,
however, he called for another
filing in two days and agreed
to hear more from the parties
the morning after.
Jump cut to
September 15, 2021 - Wilming
Trust has sued Steak n Shake
and it has be wheeled out to
SDNY Judge Denise L. Cote. The
issue is pre-payment; Judge
Cote said fact discovery can
run through December 17.
The first case
was Steak n Shake Inc. v.
Wilmington Trust, NA,
20-cv-6096 (Liman)
This new case is
Wilmington
Trust,
National
Association v.
Steak
n Shake Inc., 21-cv-2495
(Cote).
***
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