22Jan
Chancery Declines to Order Specific Performance of $5.8 Billion Luxury Hotel Deal Scuttled by COVID-19 Changes to Hotel Business Operations
AB Stable VIII LLC v. MAPS Hotels and Resorts One LLC, C.A. No. 2020-0310-JTL (Del. Ch. Nov. 30, 2020) - Parties to a sale and purchase agreement (“SPA”) had planned to close a deal to sell fifteen luxury hotels for $5.8 billion. As the COVID-19 pandemic spread across the globe in early 2020 and battered the hotel industry, the buyer terminated the SPA....
By:
Morris James LLP
Related
California Supreme Court Invalidates Agreement To Arbitrate Wage Disputes - OTO, LLC v. Kho, 2019 ...
Read More >
A California State Senate leader may have thrown cold water on the idea that we will see a 2019 legi...
Read More >
Q: One of our employees died near the end of December, but his final paycheck won’t be issued until...
Read More >
Tonight, the Incorporated Village of Farmingdale (“Farmingdale“) will consider amending its zoning...
Read More >
Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance relat...
Read More >
On May 18, 2020, California Senate Bill 977 (“SB-977”) was passed out of the California Senate He...
Read More >