U.S. Fifth Circuit Rules in Favor of Advisor in $4M M&A Fee Dispute

In 2021, when Houston-based Contractors Building Supply Company sold itself to Herc Rentals for $190 million, they decided against paying a $4 million “advisory completion fee” to the company they had originally employed to help them.

Business obligations don’t work that way, especially when they are spelled out in a contract, the U.S. Court Appeals for the Fifth Circuit explained to CBS in a 13-page opinion released Thursday.