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The damages are what is limited to $1 billion, but I wonder what the consequences are if specific performance is ordered and Musk just doesn't do it. Can the C
by jrumbut 4y ago
The damages are what is limited to $1 billion, but I wonder what the consequences are if specific performance is ordered and Musk just doesn't do it.
Can the Court of Chancery put him in jail, does it automatically fall back to the $1 billion, something else?
- walrus01 4y agoIf it's the one billion, paying that is probably a great deal less painful than what is now the amount of money that would be lost selling much lower value Tesla stock, and buying Twitter at 54.20 compared to what Twitter is now trading at.
- TheSpiceIsLife 4y agoI'd imagine the consequences of not complying with that sort of court order would be something like being prohibited from running a business and sitting on the board of any company, then further escalating to having your finances frozen.
- asdfasgasdgasdg 4y agoIf he does not pay, he will be found in contempt. Likely, the Chancery court would order a daily fine sufficiently large to eventually gain compliance. For example, they might order him to pay $50M/day that he's late on closing. Whatever is required to achieve compliance can be ordered, up to and including incarceration.