Contractual Interpretation: ESIMplified

In Kigen v NOR Capital, the High Court was asked to interpret a clause to determine whether a "Success Fee" was payable by one party to the other. In a useful illustration of how to apply the established principles of contractual interpretation, the court found no Success Fee was payable.

Background - financing for SIMs

The parties entered into an agreement for NOR Capital to assist Kigen, a leader in the eSIM market, in obtaining a capital investment. NOR Capital did not find any "external" investors. Ultimately, Kigen obtained additional funding from its parent, SoftBank Group. No breach of contract was alleged. The dispute arose over whether a Success Fee was due from Kigen to NOR Capital under a particular clause in the agreement.