LOS ANGELES – A San Francisco company alleges it was not paid a success fee as required by an agreement.
Xnergy Financial LLC filed a complaint on June 28 in the U.S. District Court for the Central District of California against Champion Pain Care Corp. alleging breach of contract.
According to the complaint, the defendant entered into a corporate finance engagement agreement with the defendant in January 2014 and that defendant agreed to pay a success fee of 6 percent of a transaction value. The plaintiff holds Champion Pain Care Corp. responsible because the defendant allegedly failed to pay success fee to the plaintiff based on their agreement.
The plaintiff seeks $390,000 on the $6.5 million drawn, and up to $780,000, plus a 10 percent late fee on the success fee; contractual interest in the amount of 1.5 percent per month, all legal fees, interest and any other relief as the court deems just. It is represented by Kyle P. Kelley of Law Offices of Kyle P. Kelley in Austin, Texas.
U.S. District Court for the Central District of California case number 2:17-cv-04766-SJO-AS