Imagine: elonmusk, known for his delight in defying authority, is ordered to move ahead with his $44 billion purchase of Twitter Inc. — and refuses. Moneyweb Twitter Court
Imagine: Elon Musk, known for his delight in defying authority, is ordered to move ahead with his $44 billion purchase of Twitter Inc. — and refuses. It’s an unusual scenario, but one in which the court would have tools to enforce its orders. It could slap an epic fine on Musk, appoint receivers to get the deal done or even enable the seizure of his assets. Twitter sued Musk on Tuesday to force him to consummate the acquisition after he pulled out. Musk doesn’t shrink from a fight.
Seizing assets, appointing receiver The court could let Twitter go after Musk’s assets, said Robert Miller, who holds a chair in corporate finance and law at the Iowa College of Law. Chancery Court “is a court of equity, with broad powers to fashion remedies. Tesla is a Delaware corporation,” Miller said. The court, he said, “would have no problem reaching Musk’s Tesla stock.
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