10Dec
Delaware Court of Chancery Addresses Effects of Pandemic on Material Adverse Effect Provision and Ordinary Course Covenants in Busted Deal Case
On November 30, 2020, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued a post-trial decision addressing contractual issues related to the effects of the COVID-19 pandemic on the sale of a collection of luxury hotels. The case, AB Stable VIII LLC v. MAPS Hotels and Resorts One LLC, was one of many busted deal lawsuits filed in the Court of Chancery implicating COVID-19's impact on M&A, with the opinion being the first to formally address these issues. The 242-page opinion...
By:
Wilson Sonsini Goodrich & Rosati
Related
Seyfarth Synopsis: The Tenth Circuit Court of Appeals recently affirmed summary judgment in favor of...
Read More >
As the pace of SPAC IPOs continues to set records, evolution of the economic terms has accelerated. ...
Read More >
At an increasing rate, employers who hire STEM OPT students are being audited by U.S. Immigration an...
Read More >
As discussed in the initial article on the new CFIUS regulations, there are two important exceptions...
Read More >
I recently talked to a group of managers about misusing Standard Operating Procedures (SOPs) and the...
Read More >
New York State will vastly expand the scope of its Equal Pay Act to cover all characteristics protec...
Read More >