Investment Fund – Breach of Participation Agreement Dispute

Herrick negotiated a very favorable settlement on behalf of an alternative investment fund in a breach of contract suit arising from a transaction in which our client acquired a 10 percent participation in a loan to a mining company. We sued in New York state court after realizing that a significant portion of the collateral securing the loan had been disposed of without our client receiving its pro rata share of the proceeds as required under the participation agreement. Herrick was able to negotiate a substantial settlement for the client that avoided the need for protracted litigation.