Macquarie successfully claims fees for financial advisory work

Daniel Toledano QC, Nehali Shah and Henry Hoskins acted for Macquarie Capital (Europe) Limited in successfully pursuing a claim against Nordsee Offshore MEG I GMBH for payment of some €16 million in respect of fees due under a financial advisory agreement.

The central issue turned on the interpretation of that agreement, by which the claimant agreed to advise on the raising of debt and equity finance for the construction of an off-shore windfarm in the German North Sea.

The Court was required to decide whether advisory fees were due in circumstances where a German offshore windfarm project had reached financial completion, albeit the defendant contended that it was a different project from that contemplated by the agreement.

Having heard evidence as to the factual matrix and commercial context, as well as expert evidence on the German regulatory regime for offshore windfarms, the Court found for the claimant and held that the fees were due.

You can view the full judgment here.

Daniel Toledano QC, Nehali Shah and Henry Hoskins appeared on for Macquarie Capital (Europe) Limited, Instructed by Travers Smith.