Goldman Sachs's Effort to Stop Tennessee Suit Denied by Judge
October 27 2021 - 6:15PM
Dow Jones News
By Becky Yerak
An effort by Goldman Sachs Group Inc. to get a Delaware
bankruptcy judge to stop a lawsuit filed against the investment
bank in Tennessee has failed.
As part of the 2020 bankruptcy of restaurant chain Ruby Tuesday
Inc., Goldman Sachs got ownership of a corporate retreat at
Maryville College in Tennessee.
Goldman Sachs was then sued by BNA Associates LLC, which alleged
that Goldman Sachs had interfered with its earlier efforts to take
over the property.
Goldman Sachs then asked the bankruptcy court that had approved
Ruby Tuesday's restructuring earlier this year to essentially
require BNA Associates to dismiss its complaint.
On Wednesday, Judge John Dorsey denied Goldman's request,
saying, among other things, that his approval of the Ruby Tuesday
bankruptcy plan doesn't have the effect of barring the Tennessee
lawsuit.
Write to Becky Yerak at becky.yerak@wsj.com
(END) Dow Jones Newswires
October 27, 2021 18:00 ET (22:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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