Palmetto State Armory, LLC v. Ikon Weapons, LLC (In re: Ikon Weapons, LLC) (Adv. Pro. No. 22-02021)

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Memorandum Opinion Denying Plaintiff’s Motion for Temporary Restraining Order, or in the Alternative, for a Preliminary Injunction. The Court found that Plaintiff-Creditor (“Creditor”) did not carry its burden with respect to the standard for preliminary injunction and the standards for constructive trust and other theories of equitable title. Creditor did not become an owner of certain goods in possession of Debtor on a pre-petition contract theory. The earmarking doctrine did not apply. Plaintiff did not stablish that it was entitled to imposition of a resulting or constructive trust. The doctrines of equitable lien and equitable title did not apply. Creditor did not meet the standards for a preliminary injunction at that stage of the litigation: likelihood of success on the merits, balance of equities, irreparable harm in the absence of an injunction, and public interest.

Date: 
Wednesday, November 30, 2022
Published: 
Yes
Index Heading: 
Injunctions
Affirmed: