White & Case on Monday sued a special purpose acquisition company for nearly $8.3 million in legal fees, claiming the company is trying to quickly liquidate and dissolve, apparently under Cayman Islands law, and leave the law firm with “no means” to recover any of the fees owed.
According to White & Case’s complaint filed in Manhattan Supreme Court, its former client, called Colonnade Acquisition Corp. II and referred to as CAC II, told the law firm for the first time in February that because it never successfully entered into “a business combination” with another company, after hiring White & Case to help it with such a transaction, “it was not required to pay White & Case anything for the prior three years of [legal] work.”
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