Contract; Fees on Account; Business Goodwill
A brokerage firm which had arranged financing for a company to acquire a subsidiary was unable to collect the fees which were called for in its fee contract with the acquiring company, and was referred to the Firm by its corporate counsel. The broker was reluctant to file suit against its customer and was anxious to preserve its reputation and goodwill with its customer base. The Firm initiated direct negotiations with the in-house counsel for the broker's customer, and obtained the full fee due for the Client brokerage firm without having to file suit.
