Law Firm Schulte Sues Again to Salvage Fees From Failed SPAC Merger with Philippines Casino | SPAC Feed

Schulte on Wednesday sued

Schulte advised 26 Capital on its planned $2.5 billion SPAC merger with an affiliate of Japan’s Universal entertainment that owned the Okada Manila casino resort. A Delaware judge last month refused to order Okada Manila to complete the merger in part because of disclosure failures in the deal, which if completed would have generated $275 million for the casino.

The New York-founded law firm sued 26 Capital on Sept. 26 in Delaware’s Court of Chancery to halt its dissolution. A judge the following day granted the law firm’s motion for a temporary restraining order to block 26 Capital from liquidating and dissolving before it pays the fees. The temporary restraining order has since been extended in the Delaware court, Reuters reports. Read more.

Source: Law Firm Schulte Sues Again to Salvage Fees From Failed SPAC Merger with Philippines Casino

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• Source: https://spacfeed.com/law-firm-schulte-sues-again-to-salvage-fees-from-failed-spac-merger-with-philippines-casino