English Commercial Court awards €1.8 million plus indemnity costs to New York broker-dealer following contested real estate financing mandate.
Xtellus Capital, a New York-based specialist investment bank and broker-dealer, today announced that it has secured a decisive judgment in the High Court of England and Wales in its contractual dispute with DL Invest Group PM S.A. The dispute concerned an unpaid success fee related to a financing agreement worth €143 million that Xtellus secured.
“This ruling demonstrates that UK courts maintain the rule of law, and it leaves no doubt that contractual commitments will be upheld by the courts. Xtellus is pleased with the outcome, and we will be pursuing the full collection of the award including interest and costs,” said Paul Swigart, CEO, Xtellus Capital.
DL Invest Group PM S.A. has not yet made the payment owed and is currently in default on the judgment.
Alexander Brown KC instructed by Howard Kennedy LLP represented Xtellus. The lawyers’ respective commentary and the full judgment provide further information on the court’s ruling.
Link to the Full Judgment
Xtellus Capital is a specialist US-based investment firm and a subsidiary of Xtellus Partners, Inc. a global financial advisory and investment group dedicated to solving complex financial challenges and unlocking growth potential in overlooked markets. With expertise in global markets, capital markets & advisory, securities trading, ventures, asset management, and commodities trading, Xtellus provides both capital and strategic insight to drive long-term success. The firm has offices in New York, Miami, London, Switzerland, Colombia, and Cyprus.
Mitch Stoller
Xtellus Capital
1-917-583-5788
mitch@literateai.com