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Don King loses round over Fla. development

Dec. 16, 2008 at 11:09 AM
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WEST PALM BEACH, Fla., Dec. 16 (UPI) -- A Florida judge ordered boxing promoter Don King to pay $500,000 after losing a legal bout with his partner in a real estate deal, officials said.

Circuit Judge Edward Garrison ruled in West Palm Beach this month that King had breached his fiduciary duty when he bailed out on his partners in a condo development project.

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The Palm Beach Post Tuesday said it was King who fired the first shot by suing EB Acquisitions for $1 million on the grounds the company had not refunded his deposit.

EB countersued, claiming they had been "strung along" by King, who dropped them to take a better deal that had come along.

The Post said EB issued a release headlined, "Developer KOs Fight Promoter" while King's attorney vowed an appeal.

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