Post by
Highprob on Nov 25, 2021 10:25pm
$CGX.TO TO BE AWARDED BREAK UP FEE $$$$$
Cineplex argued it fulfilled its obligations and continued with an “ordinary course” for the industry. Cineworld did not have grounds to terminate the deal because a clause exempting outbreaks of illness or changes affecting the motion picture theatre industry from being considered “material adverse effects.”
Judge Conway of the Ontario Superior Court of Justice, who heard closing arguments earlier this week, will decide whether Cineworld had the right to terminate the takeover agreement without payment.
IMO a settlement will be awarded to CGX as early as next week
Comment by
Therealfox on Nov 25, 2021 11:36pm
It will be nice.. just remember whatever decision is made there will be an appeal. These things last so long before they are resolved .. still would be nice for some kind of settlement to be made. Market is gonna be bad tomorrow though everyone freaking out about a new covid varient, got to revive that end of the world talk. Delta was suppose to be the end ?? Guess it will be Gama or hexa ??