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
Part One of this post discussed an NRLB Office of General Counsel Advice Memorandum which determined...
Read More >
DOJ is catching up to compliance officers and evolving best practices. Say what you want, DOJ is be...
Read More >
In Vet4U, LLC v. Department of Veterans Affairs, the Civilian Board of Contract Appeals awarded cost...
Read More >
On 4 February 2021 the Federal Trade Commission (FTC) announced that U.S. antitrust agencies will te...
Read More >
On September 23, 2019, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) pu...
Read More >
Nevada’s SB 312, signed into law in June of this year, is set to take effect January 1, 2020. For t...
Read More >