Advisory Firm Loses Bid For Fees Tied To HIG Acquisition

Law360, London (June 11, 2019, 4:27 PM BST) -- The European subsidiary of U.S. private equity firm HIG Capital LLC does not owe financial adviser Moorgate Capital any payment for its alleged role in securing a 2013 acquisition, a London judge ruled on Tuesday, citing a lack of evidence for any deal as claimed.

Judge Andrew Keyser has dismissed Moorgate’s claim for £1 million ($1.27 million) in advisory fees from HIG European Capital Partners LLP in connection with the private equity firm’s acquisition of Bezier, a marketing firm, after concluding there were no fee arrangements between the two companies. The judge sided with HIG’s argument that if an agreement had...

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