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
On February 7, 2020, the Centers for Disease Control and Prevention (CDC) issued its Interim Guidanc...
Read More >
On September 11, 2019, the California Assembly passed a bill codifying last year’s Supreme Court of...
Read More >
Glenview Dealership Created Sexually Hostile Work Environment for Business Manager And Then Fired He...
Read More >
As the Novel-Coronavirus (“COVID-19”) continues to cause disruption to every aspect of society, th...
Read More >
On May 22, 2019, Oregon governor Kate Brown signed House Bill 2341. This bill expands on existing fe...
Read More >
Physician practice acquisitions and/or equity investment by nontraditional players, such as health p...
Read More >