Sep 13, 2021
By Andy Johnson
Two titans in the movie theatre business go to court in Toronto today in what could be a multi-billion dollar test case for pandemic-era litigation.
Toronto-based Cineplex is seeking to recoup more than $2 billion in damages from Cineworld Group, after the U.K. theatre giant scrapped its planned purchase of the Canadian cinema chain.
Cineworld walked away from the takeover deal because of strict economic lockdown measures that followed the COVID outbreak.
Cineplex has called Cineworld’s decision to terminate the deal “nothing more than a case of buyer’s remorse.”
The case won’t change Cineworld’s decision to scrap the deal, but legal and entertainment experts say it will offer a window into the future of Canadian movie-going and may inspire further suits.