Post by
Highprob on Nov 26, 2021 10:39am
CGX settlement news soon?
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