Financial brokerage client's breach of contract

The Client

A company providing financial brokerage services.

Value of Dispute

£750,000

The Commercial Dispute

A financial brokerage services company had entered into an agreement with a client to secure them a substantial amount of external investment. This was to help facilitate the client’s business expansion plans, and in return, the brokerage would be paid an agreed level of fees that was linked to the client’s business performance.

The client then failed to pay the fees due to the brokerage, which was in breach of their original contract.

How Escalate Resolved – Services Used

The brokerage instructed legal representatives and incurred significant costs during the pre-action stage, however they were unable to make progress in recovering the fees that were due. At this point, Escalate were appointed to help resolve the case.

Escalate engaged the matter in January 2020, and commenced proceedings against the Defendant shortly after. Within 6 months, we had obtained an interim judgment in favour of the client, for the sum of approximately £150,000.

Following on from the exchange of pleadings and the disclosure of documents, we arranged a meeting between both parties. After a successful negotiation, the matter was settled under a Settlement Agreement in November 2020.

 

 

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