Have Your Cake, And Closing Too: Invoking Prevention Doctrine, Delaware Chancery Court Grants Seller's Request For Specific Performance In COVID-Related M&A Dispute - Corporate/Commercial Law
Chancellor McCormicks opinion in Chalking up a victory for deal certainty, this post-trial decision resolves all issues in favor of seller and orders the buyers to close on the purchase agreement." In reaching this order, the court applied the prevention doctrine, finding that the unavailability of buyers debt financing did not permit buyer to circumvent its obligation to close because buyer materially contributed to the debt financing being unavailable. The application of the prevention doctr...
United States Acquisition Inc Snow Phipps Group Court Orders Specific Performance Kohlberg Company Delaware Chancery Court
Source: mondaq.com