Jury awards developer Ugo Colombo $2M in jet dispute

Judge dismisses developer Craig Robins suit

TRD New York /
Mar.March 13, 2014 02:28 PM

From the South Florida site: A legal dispute over a corporate jet between developers Craig Robins and Ugo Colombo has ended with a $2 million jury verdict in favor of Colombo.

Nearly four years ago, Robins’ Dacra Development filed a lawsuit against Colombo’s CMC Group that alleged Colombo agreed to buy half of a $22 million Bombardier Challenger — but failed to follow through on the agreement.

Colombo then filed a countersuit against Dacra alleging that Robins failed to pay for his share of the aircraft’s maintenance and that he purposely defaulted on the loan, according to the South Florida Business Journal.

The jury ruled that Dacra did not uphold its agreement to pay for maintenance, awarding Colombo and CMC $2 million in damages. The judge previously dismissed Dacra’s original complaint.

“All I ever wanted was for Craig Robins to pay his fair share of the airplane expenses,” Ugo Colombo said in a statement. “I am glad the jury agreed with me. Not only did they award us damages, but they also confirmed that expecting my partner to pay his bills was not malicious prosecution.” [SFBJ]Christopher Cameron


Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Thor Equities' Joe Sitt and a closeup of 545 Madison Avenue (Credit: Google Maps)

Thor Equities loses 545 Madison Avenue

Daily Digest Thursday

Legislation introduced to protect tenants in ‘keyless’ buildings, Compass pushes back against WeWork comparison: Daily digest

Ben Carson on how Opportunity Zones are unlike red and black ants: TRD Miami Showcase & Forum

32BJ SEIU President Kyle Bragg (Credit: Facebook, iStock)

32BJ expects fight with real estate industry over contract renewal

South Florida developers riff on the shift from condos to rentals: TRD Miami Showcase & Forum

arrow_forward_ios