Flowers, food and gift retailer 1-800-Flowers.com Inc. is attempting to back out of its planned acquisition of the website PersonalizedMall.com LLC from Bed Bath & Beyond Inc., reports Bloomberg Law. Bed Bath & Beyond, under the representation of Richards, Layton & Finger and Proskauer Rose, is attempting to block 1-800-Flowers’ withdrawal from the deal in the Delaware Court of Chancery. 1-800-Flowers claims it is holding off on the $252 million acquisition due to circumstances surrounding the COVID-19 outbreak, however Bed Bath & Beyond says that at the time of the agreement, the possible impact of the virus was already known.
Montgomery McCracken Walker & Rhoads represented Frescati Shipping Co., the owner of a vessel that struck a submerged anchor and leaked crude oil into the Delaware River, in a U.S. Supreme Court case centered on the spill. The court determined that Citgo Asphalt Refining Co., which had chartered the ship in question, owed several million dollars in cleanup costs, reports the Philadelphia Inquirer. Frescati had payed part of a $133 million sum to clean up the spill and sought payment from Citgo to cover repairs to the damaged vessel.
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