ALTA CAPITAL PARTNERS INTL. LLC v. PARSONS CAPITAL LLC

4990, 656550/16.

155 A.D.3d 493 (2017)

65 N.Y.S.3d 138

2017 NY Slip Op 08176

ALTA CAPITAL PARTNERS INTERNATIONAL LLC et al., Respondents, v. PARSONS CAPITAL LLC et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided November 21, 2017.


Because the language of the parties' engagement agreement did not grant, let alone unequivocally express an intent to grant, plaintiffs an exclusive right to purchase on defendants' behalf, plaintiffs were not entitled to a success fee. The engagement agreement, dated May 25, 2016, provided, "Parsons ... (`Buyer') ... engages [plaintiffs] (together, `Advisor') commencing as of the date hereof, to act as its exclusive financial advisor (other than for a NASDAQ-listed services...

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