Court Finds that Seller Breached its Mergers and Acquisitions Interim Operating Covenant in Responding to COVID-19
On November 30, 2020, the Delaware Court of Chancery issued its decision in AB Stable VIII LLC v. Maps Hotels and Resorts One LLC et al., holding that the Seller had breached its covenant to operate in the ordinary course of business between signing and closing of a pending M&A transaction when it closed hotels and […]
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4 min read
Joshua Schneiderman
Partner