Luxury Developer Doesn't Owe Consultancy Bulk Of €1M Fee

Law360, London (March 24, 2020, 8:51 PM GMT) -- A London judge ruled Tuesday that a luxury property developer won't have to pay nearly €1 million ($1.08 million) to EMFC Loan Syndications LLP in additional fees and interest because the loan consultancy was not directly involved in securing the funding at the heart of the dispute.

In a ruling that went mainly in favor of Cape Verde developer The Resort Group PLC, Judge Mark Pelling said that EMFC was entitled to recoup work fees due under four invoices totaling €70,000. But the remainder of its €1 million claim against the developer was unsuccessful.

The suit centered on fees racked up...

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