Results | May 17, 2023

LOLG successful at trial in
financing fee dispute

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In Infor Financial Inc. v Centrilogic Inc., LOLG succeeded in obtaining judgment at trial for their client in a claim for a financing fee under an agreement. Matthew Gottlieb and Michael Currie represented the plaintiff, an investment bank.

The Court, in canvassing the “fundamental principles of contractual interpretation”, agreed that the plaintiff was entitled to the fee based on the services it provided under the agreement. The Court rejected the defendant’s position that the plaintiff was not involved in raising the funds and that the agreement did not provide for a fee to be paid in the circumstances. In addition, the Court found that the defendant breached the agreement by sharing the plaintiff’s work product with another lender without the plaintiff’s consent. The decision reaffirms that a Court’s interpretation of a contract will be guided by commercial reasonableness and business efficacy.

The reasons for judgment can be found here: Infor Financial Inc. v. CentriLogic Inc. April 19 2023