AMC Stock Conversion Can Proceed, Delaware’s Top Court Says (1)

An AMC Entertainment Holdings Inc. stock conversion may proceed this week after the Delaware Supreme Court rejected a request to halt the plan pending an appeal.

It’s “unclear how long impediments to AMC’s ability to raise capital would continue if the status quo were preserved pending appeal,” the court said Monday in an en banc order signed by Chief Justice Collins Seitz Jr.

Issues that an objecting investor identified for appeal “can be decided post-closing without risking the serious harm that AMC might suffer if settlement approval is delayed. Under these ...