Developer Says Fee Not Triggered In €1M Loan Dispute

Law360, London (January 2, 2020, 4:38 PM GMT) -- A British-based property developer argues in new court documents that a loan consultancy suing it over an abandoned deal does not have the right to any additional fees because it did not provide the funding at the heart of the dispute.

The Resort Group has hit back at a High Court damages suit brought against it by EMFC Loan Syndications LLP, denying in an amended defense that a so-called completion fee had become payable to the loan specialist.

The developer said that, under a contract struck between the two companies, EMFC was entitled to the fee only if it had arranged...

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