Janet Mason 
A family feud over the restaurant Palm Steakhouse has led the company to financial ruin in court. Just One More Restaurant, the corporation that licenses the Palm name to more than 20 restaurants inside the U.S. and Mexico, entered Chapter 11 financial disaster protection on Thursday, in accordance with a Thursday filing with the U.S. Bankruptcy Court in Fort Myers, Florida. Company executives purpose to negotiate a settlement over disputed royalty bills. The financial ruin submission comes much less than a month after a New York choose entered a final judgment ordering the company to pay nearly $120 million to minority shareholders, who had accused the majority owners of cheating them out of royalties in the previous forty years.
The decision presiding over the case had referred to, like it, “a textbook example of fiduciary misconduct.” Just One More Restaurant’s Palm restaurants, acknowledged for their old-college enterprise-lunches, first opened in New York in the ’20s, have, however, since extended for the duration of the U.S. and Mexico. However, the organization presently has less than 50 creditors, with $10 million $50 million in liabilities, consistent with the submission. A defining feature of Palm eating places is the caricatures of celebrities, politicians, and distinguished sports and media figures.
