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Dec 17, 2021 · On June 12, 2020, Cineworld notified Cineplex that it was terminating the Arrangement Agreement because Cineplex had breached its covenants in the Arrangement Agreement, and that Cineworld was withdrawing its application for ICA approval. Cineplex sued for breach of contract.
Dec 16, 2021 · It did not breach any of the other covenants during the interim period. Cineworld had no basis for terminating the arrangement agreement.” In June 2020, Cineworld called off its planned $2.8 billion ($34 a share) takeover of Cineplex, announced in December 2019.
Dec 23, 2021 · In a highly anticipated decision, the Ontario Superior Court of Justice – Commercial List held that Cineworld wrongly terminated its arrangement agreement to acquire Cineplex, which was awarded substantial damages.
Dec 15, 2021 · Toronto-based Cineplex announced Tuesday evening that the Ontario Superior Court of Justice ruled in its favour in a breach of contract lawsuit against its former suitor Cineworld Group PLC....
Dec 14, 2021 · Canadian cinema giant Cineplex says the Ontario Superior Court of Justice has ruled in its favor in a breach of contract lawsuit brought against Regal owner Cineworld Group PLC.
The Ontario Court held that Cineplex did not breach any of its covenants in an arrangement agreement between Cineplex and Cineworld dated December 15, 2019 (the “ Arrangement Agreement ”), and that Cineworld had no basis for terminating the Arrangement
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Jan 18, 2022 · The Ontario Superior Court recently released its judgment in the case of Cineplex v Cineworld, awarding Cineplex $1.24 billion in damages after Cineworld terminated its agreement to acquire Cineplex. The parties executed an Arrangement Agreement for Cineworld to acquire the shares of Cineplex shortly before the onset of the COVID-19 pandemic ...
