19Dec
Delaware Court of Chancery Issues Precedential Decision Addressing the Impact of COVID-19 on M&A Transaction, Finding Violation of Ordinary Course Covenant but No Material Adverse Effect
In AB Stable VIII LLC v. Maps Hotels and Resorts One LLC, the Delaware Court of Chancery issued a precedential decision addressing whether a buyer could walk away from an M&A transaction because the target company’s responses to the COVID-19 pandemic constituted either a “material adverse effect” (MAE) or a breach of the covenant to operate in the ordinary course of business between signing and closing (“Ordinary Course Covenant”). Although the MAE definition did not include an exception for...
By:
Akin Gump Strauss Hauer & Feld LLP
Related
As the UK gradually navigates its way out of lockdown, here is an updated snapshot summarising in on...
Read More >
- On February 26, 2020, the NLRB issued a final rule tightening the standard for joint employment un...
Read More >
A Complimentary Three-Part Webinar Series Geared Towards Educating Physicians and Physician Groups -...
Read More >
The US Federal Trade Commission today announced increased thresholds for the Hart-Scott-Rodino Antit...
Read More >
The Construction Leadership Council (CLC) has now published version 3 of the Site Operating Procedur...
Read More >
Talks between General Motors and the striking UAW broke down yesterday, threatening the progress the...
Read More >