The importance of AB Stable to M&A is hard to overstate.
Simply put, the Delaware courts made a much deeper dive into “ordinary course covenants” in M&A than had ever before occurred.
That said, AB Stable left a crucial question unanswered: when will a duty to comply with law or government guidelines be read into an “ordinary course” undertaking?
In the latest edition of The M&A Lawyer, we highlight recent caselaw tackling this question, both in light of the questions asked (but unanswered) in AB Stable and in comparison with relevant Canadian M&A caselaw.
Read the full article: Ordinary Course Covenants: Australia's Highest Court Addresses An Important Questions Left by AB Stable, and Lessons for Cross-Border M&A
