By Mark Vester
In a follow-up to a story run a few weeks ago, the Palm Beach Post reports that a Florida judge has ruled in favor of EB Acquisitions, making the determination that promoter Don King owes the company $500,000 in damages, and an additional $1 million being held in escrow will also go to EB.
The lawsuit stems from development deal gone bad, with King working with EB to develop a piece of property that he owns. King sued EB, claiming the company owed him a $1 million deposit based on a $23 million deal on the property. EB counter-sued the veteran promoter. Circuit judge Edward Garrison ruled that King breached his fiduciary duties to EB.
"This was a case that turned on credibility," said EB attorney Kevin Markow to The Post.
King's attorney, Alvin Davis, said in an e-mail to the paper that he will appeal Garrison's decision.
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