The Delaware Supreme Court appeared reluctant Wednesday to force a SOL Global Investments Corp. affiliate to close a $100 million deal for Reby Inc., a Barcelona-based startup that runs a platform for urban scooter and bicycle rentals.
House of Lithium Ltd. got “a free pass” from the Delaware Chancery Court to drop out of the transaction, said Reby’s attorney, Raymond DiCamillo of Richards Layton & Finger.
The Chancery Court gave it “the excuse it was desperately looking for and allowed HOL to walk away from the contracts it signed,” DiCamillo told the high court’s full five-member panel.
Chief Justice Collins ...
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