Ruby tuesday file complaint

Ruby Tuesday said it has reached an understanding with its lenders to support the restructuring, during which its restaurants will continue to operate, while it works to preserve the jobs of thousands of its employees. Social distancing and other pandemic-related curbs have put pressure on the restaurant industry, pushing companies like CEC Entertainment, the parent of once-popular children-themed restaurant chain Chuck E. Cheese, and California Pizza Kitchen to file for bankruptcies.

Founded nearly half a century ago, Ruby Tuesday was a public company till when it was sold to private equity firm NRD Capital. The executive supplemental plan and the management retirement plan are funded by company-owned life insurance policies with an aggregate surrender value as of Sept. Regions bank, the trustee of the rabbi trust associated with the executive supplemental plan and the management retirement plan filed an interpleader complaint in the U.

District Court for the Northern District of Alabama seeking a determination of rights in the assets held in the rabbi trusts. A trial date has yet to be set in the action, which is designed for the court to appraise the fair market value of the Ruby Tuesday Inc. Click HERE to enlarge. This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject.

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Referred To: Susan L. Date Filed: Feb. Date Terminated: Feb. Date of Last Known Filing: Aug. Cause: Job Discrimination National Origin. Nature of Suit: Civil Rights: Jobs. Jury Demand: Plaintiff.