The United States 8th Circuit Court of Appeals handed down a win in an investment banking dispute involving a client of our office who assisted a meatpacker in obtaining financing for a meatpacking plant. After the financing was obtained, the meatpacker refused to pay the success fees on the contract. In the 8th Circuit’s decision, there were a couple of particularly significant results. Our client was awarded all of the balance of the fees owing on his contract, plus prejudgment interest. Additionally, the 8th Circuit reversed the District Court and ordered the enforcement of the contract provision which provided that our client was to receive the attorney’s fees and collection costs he expended in enforcing the contract. The 8th Circuit Court of Appeals found that South Dakota law permits enforcement of negotiated contract provisions like this one.

ReadOrion Financial v. American Foods Group