Family Fight Over Ownership, Control of Palm Restaurant Settles

The family members that own the Palm steakhouse chain’s intellectual property rights have settled their long-running dispute.

A request to approve the agreement was jointly filed Wednesday in four bankruptcy cases pending in the U.S. Bankruptcy Court for the Middle District of Florida.

Although each of the bankrupt debtors is directed by an independent trustee, the trustees aren’t party to the settlement.

Just One More Restaurant Corp. (JOMR) and its affiliate Just One More Holdings Corp. filed Chapter 11 in March 2019, shortly after a group of the company’s minority shareholders—heirs to the Palm’s founders—won a $126 million derivative judgment ...