Developer Loses Appeal To Avoid Fees For Ex-Lehman Banker

Law360, London (May 12, 2021, 4:08 PM BST) -- A U.K. property developer lost its bid on Wednesday to avoid handing over performance fees and interest worth more than £1.3 million ($1.8 million) to a financier who stopped working on a joint venture.

A three-judge Court of Appeal panel said it could not consider arguments from Grainmarket Asset Management LLP, a property development, investment and management business, about how an agreement with Daniel Donovan had ended, and about his contractual right to performance fees, as they had not been advanced at trial.

The panel said Grainmarket asked the appeals court to find that a joint venture with Donovan, a former Lehman...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!