My company is involoved as an internediary in the field of corporate finance. Recently we concluded a transaction for a major client for which the funding bank paid us a commission.
It has come to our notice that a further deal under the arranged facility has taken place and the funding bank does not agree that we are due a commission on this additional lending.
I am seeking case law examples of similar situations where the court has acknowledged that the internediary's relationship with the customer (the introducer to the funding source) should be recognised by payment of commission on future dewals and that the funder should have notified the internediary when the subsequent transaction took place.
All hep gratefully received!
David Bowman
General Manager
Saracen Finance
David Bowman
Replies (1)
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case law
You might want to have a look at the judgments in the following cases:
Miller v Radford (1903) 19 TLR 575
Toulmin v Millar (1887) 3 TLR 836
Way v Latilla [1937] 3 All ER 759
You should find the gist is that there must not only be a causal connection but also a contractual one if a commission on repeat business is to be due.