26 Capital SPAC dissolution blocked by courts

A US judge has temporarily blocked the dissolution of Special Purpose Acquisition Company (SPAC) 26 Capital after a lawsuit to recover some $1.9 million in legal fees linked to the defunct plan for a merger with Okada Manila operator Universal Entertainment.

According to Reuters, the temporary restraining order was granted on Wednesday in a court in Delaware, where the legal measures have played out.
26 Capital had issued a notice last week that it was planning to close down and liquidate its accounts by October 13^th.
The firm challenging the closure says that the move could block its chance to receive unpaid legal fees.
26 Capital has issued a statement saying it would fight the ‘unfounded legal actions’.

Okada Manila Universal Entertainment Corp. Latest news SPAC Court ruling 26 Capital

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