COVID-19: High court issues preliminary ruling on interpretation of Material Adverse Effect clause
By EsqSocial Corporation 02/11/20
In a dispute between WEX (Inc.) (“WEX”) and the shareholders (the “Sellers”) of eNett International (Jersey) Limited (“eNett”) and Optal Limited (“Optal”), following an expedited trial on a number of preliminary issues, the High Court’s judgment (Travelport Limited & Others v WEX INC [2020] EWHC 2670 (Comm)) provides helpful guidance on the interpretation of material adverse effect (“MAE”) clauses which are not commonly used in English law acquisition documents. The judgment is also notable for...
By: Bryan Cave Leighton Paisner