Family Feud, Bankruptcy Filings, Coronavirus Loom Over $45M Palm Restaurant Sale

Landry's paid $45 million in cash and assumed $23 million of liabilities for the iconic Palm restaurant started by Italian immigrants in New York in 1926.

By Lidia Dinkova | April 02, 2020 at 08:26 AM

The sale of an iconic steakhouse brand was accomplished against the backdrop of a longstanding family feud, bankruptcy filings and the looming threat of an economic shutdown from the coronavirus.

Attorney Paul Singerman led the Berger Singerman legal team who worked through the challenges to execute the $45 million sale of the intellectual property of The Palm restaurants, ownership stakes in more than 20 locations and licensing rights to three others.

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