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On January 12, 2021, Massachusetts Governor Charlie Baker signed
into law Bill S2841 amending Chapter 138 of the General Laws by
inserting Sec. 25E 1/2. Under M.G.L.A. 138 § 25E ½ a brewery may, without good cause, terminate the right of a
licensed wholesaler to whom such brewery has made regular sales of
malt beverages subject to the provisions of this section.
In order to qualify, breweries must produce less than 240,000
barrels of beverages in a year.
Breweries must provide the affected wholesaler no less than 30
days written notice and full compensation. the laid-in cost
On April 30, 2021, the Delaware Chancery Court (the
“Court”) issued a decision in
Snow Phipps Group,
LLC v. KCake Acquisition, Inc., ordering an affiliate of
private equity buyer Kohlberg & Co. (“Kohlberg”) to
acquire cake decoration supplier, DecoPac Holdings Inc.
(“DecoPac”), for $550 million. In the opinion, newly
sworn-in Chancellor Kathaleen McCormick affirmed prior case law on
several common contractual provisions that bear on deal certainty
in the time of COVID-19 (including material adverse effect, or
“MAE,” conditions; interim operating covenants; and the
reasonable best efforts standard). Most notably, however, the Court
said it had “chalked up a victory for deal certainty”
by granting DecoPac s request to force Kohlberg to
For both established companies and new companies, it is often essential to allow key employees to participate in the company's future growth and profitability through equity ownership.
An interview with our Managing Partner, Elias Neocleous, has recently been published in Gold Magazine. During a wide-ranging discussion Elias was asked for his thoughts on the challenges and .
In
Pittsburgh Logistics Sys, Inc. v. Beemac
Trucking, LLC, No. 31 WAP 2019, 2021 Pa. LEXIS 1853 (Apr.
29, 2021), the Pennsylvania s Supreme Court concluded that a
no-hire provision in an agreement between two companies was not per
se unlawful; however, the Court ultimately concluded that this
particular restriction was unenforceable as an unreasonable
restraint on trade because it was too broad and because it would
harm parties not to the contract.
No-Hire Provision
The dispute centered on a contract between Pittsburgh Logistics
Systems, Inc. (PLS), a logistics provider that arranges for the
shipping of its customers freight, and Beemac Trucking
(Beemac), a shipping company that did non-exclusive business with