A court decision awarding Canadian movie theatre chain Cineplex Inc. more than C$1.2 billion in damages over a botched deal with U.K.-based Cineworld Group Plc offers some of the first authoritative guidance on interpreting standard M&A clauses in the time of COVID.

While the award is one of the largest ever in Canada for compensation over “lost synergies,” the case really hinged on “what’s ‘ordinary course’ in a pandemic,” said Brian Kolenda, a partner at litigation boutique Lenczner Slaght with extensive experience in complex business disputes.

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