M&A and Private Equity Bulletin: Insights from on the Effect of MAE/MAC Provisions Amidst COVID-19

The Ontario Superior Court of Justice (the “Court”) recently released its decision in Fairstone Financial Holdings Inc. v Duo Bank of Canada (“Fairstone”), which has been the first decision in Canada to address the applicability of invoking material adverse change (“MAC”) or material adverse effect (“MAE”) provisions, commonly found in M&A and corporate finance transaction documents, in the context of the COVID-19 pandemic.

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