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24Dec

Fairstone Financial v Duo Bank – Ontario Court Interprets MAC Clause

In Fairstone Financial Holdings Inc v Duo Bank of Canada, Koehnen J. of the Ontario Superior Court of Justice (Commercial List) had the opportunity to further the limited jurisprudence on material adverse change/material adverse effect (MAE) clauses. Unsurprisingly, this jurisprudence has become more prominent as a result of the suddenness and uncertainty of the COVID-19 pandemic. In this decision, Koehnen J. considered the applicability of an MAE clause and other covenants in a share purchase...
By: Bennett Jones LLP
Source Url: https://www.jdsupra.com/legalnews/fairstone-financial-v-duo-bank-ontario-22305/

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