ELMSHORN, Germany, February 1, 2012 /PRNewswire/ --
The founding management team behind Novus Energy GmbH has sued US private equity giant Denham Capital Management in German court to enforce payment of a seven digit termination fee payable under contract between the two. After close to 2 years of litigation and a mountain of legal papers from the private equity group, the district court at Itzehoe, Germany will give a ruling on the case next week. The US private equity group has been embroiled in legal battles with its former partners and also former employees of Novus, after it suddenly decided in 2010 to dramatically down-size Novus Energy, a renewable energy acquisition, development and operations company founded in 2006.
SOURCE Energie aus Biomasse