| Steak n Shake Is Denied
Injunction Against Wilmington Trust So Cannot
Sell $50M Property
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
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SDNY COURTHOUSE,
Sept 1 – 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
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.
The case is Steak
n Shake Inc. v. Wilmington
Trust, NA, 20-cv-6096 (Liman)
***
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