Family Feud Settlement Over Bankrupt Palm Restaurant Approved

A group of minority shareholders of the Palm steakhouse operator will gain a controlling stake after a bankruptcy court approved their settlement with current majority shareholders, an agreement that ends a years-long dispute among the Palm founders’ descendants.

Their settlement, entered Wednesday by Judge Caryl E. Delano, was filed June 17 jointly in four bankruptcy proceedings—the Chapter 11 cases of Just One More Restaurant Corp. (JOMR) and affiliate Just One More Holding Corp. (JOMH), and the individual Chapter 7 cases of the companies’ two majority shareholders and Palm creators’ grandsons, Bruce E. Bozzi, Sr. and Walter J. Ganzi, Jr.

In ...