Mirae Asset Global Investments Co. is relying on legally faulty pretexts to justify its cancellation of a $5.8 billion purchase of 15 U.S. luxury hotels, China’s Dajia Insurance Group contends in an unsealed lawsuit.
Dajia -- which assumed the assets of struggling Chinese insurer Anbang Insurance Group Co. -- says it satisfied all terms of the sale, but Mirae has cited a myriad of reasons why it can’t close, according to the Delaware Chancery Court complaint. With hotels shuttered by the pandemic, Mirae “began efforts to wriggle out” of the deal, according to the 48-page suit seeking to complete ...
