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
Source Url: https://www.jdsupra.com/legalnews/delaware-court-nixes-deal-due-to-seller-86706/
Related
On April 4, 2019, the Colorado Court of Appeals issued its decision in Houchin v. Denver Health and ...
Read More >
As we start the new year, following the Federal Civil Penalties Inflation Adjustment Act which Congr...
Read More >
Sadly, accidents happen, and individuals are injured across our state in all sorts of different ways...
Read More >
The venture capital market hit record levels in 2018, with robust increases in deal flow and financi...
Read More >
On July 2, 2020, the IRS issued proposed and temporary regulations under section 1502 that implement...
Read More >
Illinois is attempting to stay at the forefront of legislating the interaction between employment an...
Read More >