Articles
Feb. 02, 2022

Delaware Supreme Court Holds That Seller's Changes to Operations Because of COVID-19 Breached the Ordinary Course Covenant and Relieved Buyer of its Obligation to Close

Litigation partners Arthur H. Aufses III, Alan R. Friedman and Jonathan M. Wagner and associate Daniel Ketani; and Corporate partners Christopher S. Auguste, Adi Herman, Shari Kahn Krouner, Todd E. Lenson, Thomas E. Molner and Jordan M. Rosenbaum authored a Lexis Practical Guidance article titled “Delaware Supreme Court Holds That Seller's Changes to Operations Because of COVID-19 Breached the Ordinary Course Covenant and Relieved Buyer of its Obligation to Close” on Feb. 2, 2022. The article examines how the Delaware Supreme Court’s decision in AB Stable VIII LLC v. MAPS Hotels and Resorts One LLC provides important guidance for practitioners regarding how Delaware courts will interpret and apply ordinary course covenants.

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