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Palm Restaurant in lower Manhattan. Photo: Ryland West/ALM Palm Restaurant in lower Manhattan. Photo: Ryland West/ALM

A long-running family dispute over The Palm Restaurant chain reached a settlement expected to total $12 million to $18 million this week, signaling an end to years of litigation in New York between the two families whose Italian immigrant ancestors founded the first Palm on Manhattan’s Second Avenue in 1926.

The bulk of the settlement is slated to go to Gary Ganzi and Claire Ganzi Breen, who sued the Palm’s majority shareholders, Walter Ganzi Jr. and Bruce Bozzi Sr., in 2012. The court approval process for the settlement is set to begin Monday, with the entire process projected to finish in the fourth quarter of 2020, the plaintiffs’ attorney, Fred Newman of Hoguet Newman Regal & Kenney, said Friday.

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Jane Wester

Jane Wester is a litigation reporter for the New York Law Journal. Email her at [email protected] or find her on Twitter @janewester.

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