Ira N. Rosner is a partner in Holland & Knight's
Miami office.
HIGHLIGHTS:
- In Chicago Bridge & Iron
Company N.V. v. Westinghouse Electric Company LLC and WSW
Acquisition Co., LLC, the Delaware Chancery Court was required
to interpret purchase price dispute resolution mechanisms commonly
found in agreements for the purchase and sale of privately held
companies.
- The decision provides clear guidance
for drafting the purchase agreement so that it does not create
ambiguity as to the role of dispute resolution language in the
contract.
In Chicago Bridge & Iron Company N.V. v. Westinghouse
Electric Company LLC and WSW Acquisition Co., LLC, C.A. No.
12585-VCL (decided Dec. 5, 2016), the Delaware Chancery Court was
required to interpret purchase price dispute resolution mechanisms
commonly found in agreements for the purchase and sale of privately
held companies. In this case, Chicago Bridge & Iron Company
N.V. (the Seller) sold its subsidiary, CB&I Stone and
