Kentucky-based KFC has been in a legal dispute with Wagstaff for years and has fought in court for its right to terminate Wagstaff’s restaurants or have them shut down, a fight KFC ultimately won. The franchisee had been trying to sell the restaurants by the end of October to meet a deadline set by KFC. GE was afraid that KFC would back out of its financing commitment after the court approved the deal and then force the restaurants to close.