Bloomberg Law
April 27, 2020, 7:50 PM

Texas Cinema Says Billionaire Used Virus, Bankruptcy to End Sale

Steven Church
Steven Church
Bloomberg News

One of Mexico’s richest men is among the latest buyers to bust a deal because of the coronavirus pandemic, according to a court filing by a jilted, Texas theater owner.

Cinemex Holding USA, Inc. is owned by billionaire German Larrea and could have easily honored its March 10 promise to buy a Texas dine-in theater chain, the owner said in a lawsuit in federal court in Houston.

Instead, Cinemex pulled out after about two weeks, blaming pandemic restrictions, and the alleged closure of the U.S.-Mexico border. Cinemex had agreed to buy the chain despite the growing health crisis because U.S. ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.