Institutional Labor Advisors LLC v. Allied Resources Inc.

Allied Resources Inc. (defendant) hired Institutional Labor Advisors LLC (ILA) (plaintiff) to help acquire coal reserves, initially agreeing orally that ILA would be paid only upon a successful acquisition. After Allied acquired the reserves, the parties signed a written agreement — extensively negotiated over seven months with Allied's own independent counsel — giving ILA 5% of the value of certain resulting income. When Allied allegedly stopped paying under the agreement, ILA sued for breach; Allied argued the agreement was invalid and unenforceable, and both sides moved for summary judgment.