The Real Deal New York

Jury awards developer Ugo Colombo $2M in jet dispute

Judge dismisses developer Craig Robins suit
March 13, 2014 02:28PM

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