Corporate advisory firm Moorgate Capital in court battle with private equity fund HIG European Capital Partners
Corporate advisory firm Moorgate Capital and private equity fund HIG European Capital Partners are locked in a court battle over an alleged unpaid £1m fee.
Moorgate alleges that HIG had promised to pay Moorgate £1m in the event it acquired printing firm Bezier, which HIG did in 2011.
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Moorgate claims that the contract stemmed from an oral agreement, reportedly made at an event at the Wallace Collection in London.
Moorgate claims it introduced Bezier to HIG as a potential acquisition and says it provided further “valuable services” connected with the deal.
The original High Court claim was launched in April 2017 and the case is currently wending its way through the courts with Moorgate filing further papers related to the case earlier this month.
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HIG acquired Bezier in 2011 after it had acquired Bezier’s senior debt.
The print arm of Bezier filed for administration in February 2013.
According to reports Moorgate is being represented by Cotswold Barristers and HIG is being advised by law firm Hogan Lovells.
HIG declined to comment.