Jarden is suing one of its former clients – commercial sauces and condiments manufacturer Birch & Waite – claiming it was cut out of a $300 million purchase of the company by Quadrant Private Equity.

In a rare example of an investment bank taking a client to court, the trans-Tasman advisory firm is arguing it deserves its fee from the transaction because the deal was finalised shortly after it was axed as an adviser.