Barry M. Klayman and Mark E. Felger Anti-Assignment Clause Prohibiting Assignment by Operation of Law Applies to Subsequent Merger
In MTA Canada Royalty v. Compania Minera Pangea, Judge Abigail LeGrow considered whether an agreement's anti-assignment clause operated to void an assignment that occurred as a result of a subsequent merger between a contracting party to the agreement and a third party.
October 07, 2020 at 09:03 AM
6 minute read
In MTA Canada Royalty v. Compania Minera Pangea, S.A. de C.V., C.A. No. N19C-11-228 AML CCLD (Del. Super. Sept. 16, 2020), Judge Abigail LeGrow considered whether an agreement's anti-assignment clause operated to void an assignment that occurred as a result of a subsequent merger between a contracting party to the agreement and a third party. She held that the anti-assignment clause prohibiting an assignment "by operation of law" without the other party's consent applied to a subsequent merger in which the contracting party was not the surviving entity.
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