Macquarie Gets €19M Windfall In Turbine Fees Row
Law360, London (June 28, 2019, 12:30 PM BST) -- A German wind developer must pay approximately €19 million ($21.6 million) after a London judge said on Friday the company had to cover fees charged by the investment banking arm of Macquarie Group, regardless of whether it had finished fundraising for the project.
High Court Judge Christopher Butcher said Nordsee Offshore Meg 1 GmbH had pledged to pay Macquarie Capital Europe Ltd. for raising money for an offshore wind farm in the North Sea, even though the energy company had failed to find investors for the project.
Meg 1, the German wind company, had argued that the project eventually closed on financial...
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