Moelis Sues Ferrellgas Over $20 Million Advisory Fee Refusal

Moelis & Co. is suing a client, Ferrellgas LP, for allegedly refusing to pay about $20 million in restructuring transaction fees, claiming its work successfully resulted in raising $700 million of equity for the gas tank exchange company.

Ferrellgas, known for its Blue Rhino propane tanks, acted at the direction of its president, James Ferrell, when it withheld payment to Moelis upon the closing of three transactions at the end of March, according to the suit, filed Sunday with the U.S. Bankruptcy Court for the District of Delaware. The transactions helped the company restructure more than $2 billion of debt, ...