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
On Monday, September 21, 2020, the Federal Trade Commission (FTC) and Department of Justice (DOJ) jo...
Read More >
Introduction: COVID-19 Contractor Disruption Claims - When push comes to shove, and it has, how co...
Read More >
In Taylor v. Burlington Northern Santa Fe Railway Company, the Washington Supreme Court recently hel...
Read More >
Private equity-backed takeovers of listed companies in Western Europe have enjoyed several strong ye...
Read More >
Romania’s fertility rate is statistically low, with only 1.54 children born per woman in 2018. The ...
Read More >
Tags, drags, ROFOs, and ROFRs raise a number of substantive and procedural issues for parties to joi...
Read More >