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
Connecticut’s trend of liberal, policyholder-oriented insurance coverage decisions continued apace ...
Read More >
In 2018, the Treasury Department and the IRS issued new hardship distribution rules applicable to de...
Read More >
A key responsibility for any ethics and compliance professional is to help build and maintain a work...
Read More >
In a much-anticipated move, the United States Department of Labor ("DOL") announced yesterday the fi...
Read More >
Seyfarth Synopsis: Administrators of ERISA plans frequently receive requests from participants, ben...
Read More >
On March 31, 2020, the six Bay Area counties that previously issued the nation’s first Covid-19 she...
Read More >