Ruby Tuesday Floats Deal To Resolve Ch. 11 Trust Fight
Law360 (December 2, 2020, 3:55 PM EST) -- The bankrupt parent company of casual dining chain Ruby Tuesday proposed a settlement late Tuesday that would forestall an appeal of a Delaware court's decision granting the Chapter 11 estate ownership rights to employee compensation trusts and resolve the dispute with current and former employees.
RTI Holding Co. said it had reached the agreement with an ad hoc group of participants in deferred compensation and retirement trust plans that will see the debtor pay the fees and expenses the group incurred in the dispute over the ownership rights to the so-called "rabbi trusts," in exchange for the group dropping its plans...
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