Court of Appeals for the Seventh Circuit April 28, 2004, 01-3685, 01-3787 (Tranzact Technologies, Ltd. v. Evergreen Partners, Ltd. And Kellogg Associates, Inc.)

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WILLIAMS, Circuit Judge.

Kellogg Associates and Evergreen Partners (“the advisors”) were hired by Tran-zact Technologies, Ltd. to perform advisory services for Tranzact. When Tranzact sold some of its assets to another company, the advisors sought payment of an investment banking fee. Tranzact determined that payment was not required, and sought a declaratory judgment in federal court.