Del. Judge Rejects Ch. 11 Cover For Goldman In Tenn. Suit

By Jeff Montgomery (October 27, 2021, 6:30 PM EDT) -- A Delaware bankruptcy judge ruled Wednesday that Goldman Sachs can't use Ruby Tuesday Inc.'s February Chapter 11 confirmation to shield it from a developer's $54 million suit in Tennessee claiming interference with a pre-petition deal to acquire the restaurant chain's lease for a historic lodge south of Knoxville.

In an 18-page decision, Judge John T. Dorsey declared that a finding of good faith underlying his confirmation for restaurant chain parent RTI Holding Company LLC and its affiliates "does not mention whether GS acted in good faith toward third parties at all times" and applies only to debtor, creditor committee, equity party...

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