X
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
Source Url: https://www.jdsupra.com/legalnews/chancery-declines-to-order-specific-2605195/

Related

Illinois Amends Recreational Cannabis Law To Protect Drug Testing By Employers

Earlier this month, Governor Pritzker signed into law SB 1557, revising the Recreational Cannabis La...

Read More >

How Downsizing or Restructuring Can Impact the Executive Overtime Exemption

In recent months, we have had several situations where clients were assessed back wages for overtime...

Read More >

Summer Travel Tips for Foreign Nationals Living in the U.S. on a Temporary Visa

Any foreign national making plans to travel abroad this summer should make sure to prepare in advanc...

Read More >

Client Conversations: Interview with Matthew J. Maletta, Executive Vice President and Chief Legal Officer of Endo Pharmaceuticals

In this episode, we interview Matthew Maletta, executive vice president and chief legal officer of E...

Read More >

UK Women and Equalities Committee Calls for Immediate Government Action to Prevent Misuse of NDAs

Following the launch of an enquiry in November 2018 examining the use of nondisclosure agreements (N...

Read More >

Let’s Not Shake On It: Are Contactless Technologies the Future?

On May 1, Texas began Phase I of its economic reopening, permitting certain businesses to begin oper...

Read More >