Bank Must Pay Financier $3.25M In Contract Suit, Jury Finds

Law360, New York (April 12, 2016, 4:15 PM EDT) -- A Florida federal jury has awarded $3.25 million to a financier who said that an international bank cheated him out of his fee for putting together all the pieces of a complicated $150 million bond issuance.

The jury awarded $3.25 million in an April 8 verdict to Oswaldo Hugo, the sole member of technical plaintiff Quantum Capital LLC, after Quantum brought together defendant Banco de los Trabajadores and nonparty Deutsche Bank for a $150 million bond issuance, while also pulling in preferred equity financing from another nonparty, DHK Finance Inc.

The jury agreed with Quantum that the Guatemalan bank — which...

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