Twitter's odds of getting specific performance and making Musk close the deal

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30. Four cases lawyers for Twitter and Elon Musk will be examining as they head to court

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https://www.cnbc.com/2022/07/12/here-are-four-past-cases-twitter-and-elon-musks-lawyers-will-be-examining-as-they-head-to-court.html?utm_source=dlvr.it&utm_medium=twitter

AB Stable v. Maps Hotels and Resorts
In this 2020 case, a South Korean financial services company agreed to buy 15 U.S. hotels from AB Stable, a subsidiary of Anbang Insurance Group, a Chinese company, for $5.8 billion. The deal was signed in September 2019 and scheduled to close in April 2020.

The buyer argued Covid-19 shutdowns were cause for a material adverse effect on the deal. The seller sued for specific performance.

Judge J. Travis Laster found that hotel shutdowns and dramatic capacity reductions breached the “ordinary course” of business clause, and ruled that the buyer could get out of the deal.

The Delaware Supreme Court affirmed the decision in 2021.