Credit: Blue Planet Studio/Adobe Stock Bankers Beware: The Reach of the Procuring Cause Standard
'Morpheus' and 'Dominik' raise the prospect that courts—and certainly parties litigating an investment banking fee—will be tempted to stack the deck in favor of a vague and fact-specific procuring cause standard. Once again, bankers beware.
February 10, 2023 at 01:20 PM
9 minute read
In our last New York Law Journal article, "Bankers Beware: The Judicial Divide Over Customary Investment Banking Fees" (Nov. 14, 2022), we highlighted the conflicting New York case law on the application of the "agreement to agree" doctrine to investment banking fees. This article highlights another potential area of contract uncertainty for investment bankers, principals, and counsel—the procuring cause standard.
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