22Dec
Delaware Court Nixes Deal Due to Seller’s Failure to Operate in “Ordinary Course” During COVID-19
The decision leaves the door open for buyers to argue that inflexible ordinary course covenants can provide a basis to terminate a transaction in which a seller does not suffer an MAE. Key Points: ..The Delaware Court of Chancery’s ruling illuminates how other courts may analyze pre-closing operational covenants following business disruptions due to the pandemic. ..The court reaffirmed the high bar to establish an MAE, holding that a carveout to an MAE definition need not expressly include...
By:
Latham & Watkins LLP
Related
On June 26, 2019, Governor Ned Lamont signed a $43.4 billion budget for the 2020 and 2021 fiscal yea...
Read More >
The Kingdom of Saudi Arabia's new competition regime has gone into effect with potentially significa...
Read More >
AB 5’s elimination of independent contracting as we know it in California will have significant leg...
Read More >
Recently, on October 10, 2019, the National Labor Relations Board (“NLRB”) held, in LA Specialty P...
Read More >
The evolving coronavirus/COVID-19 pandemic, which has caused profound worldwide human suffering, has...
Read More >
The Departments of Labor, Health and Human Services and Treasury recently issued joint final regulat...
Read More >