Innkeepers Sues Cerberus Over Terminated Deal Based on MAC | Practical Law

Innkeepers Sues Cerberus Over Terminated Deal Based on MAC | Practical Law

On August 29, 2011, Innkeepers USA Trust sued Cerberus and Chatham Lodging Trust for terminating the planned acquisition of 64 hotels on the basis of a material adverse change (MAC). Innkeepers claims invocation of the MAC is inappropriate as its business had no significant change since the signing of their agreement.

Innkeepers Sues Cerberus Over Terminated Deal Based on MAC

Practical Law Legal Update 4-508-0198 (Approx. 3 pages)

Innkeepers Sues Cerberus Over Terminated Deal Based on MAC

by PLC Finance
Published on 30 Aug 2011 • USA (National/Federal)
On August 29, 2011, Innkeepers USA Trust sued Cerberus and Chatham Lodging Trust for terminating the planned acquisition of 64 hotels on the basis of a material adverse change (MAC). Innkeepers claims invocation of the MAC is inappropriate as its business had no significant change since the signing of their agreement.