Mirae Global Asset Investment Co. persuaded Delaware’s top court to uphold its victory Wednesday against a bid by Dajia Insurance Co. to compel closing of their $5.8 billion hotel deal, which Mirae walked away from when the Covid-19 pandemic crippled the hospitality industry in early 2020.
The state supreme court affirmed a ruling by Vice Chancellor J. Travis Laster, who said in a 242-page opinion for Delaware’s Chancery Court last year that Mirae’s choice to scuttle the deal was justified by Dajia’s decision to join the rest of the hotel industry in closing properties and laying off staff.
Chief Justice ...
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