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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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