Coco mountain.(Coco Mountain Ranch LLC)(Brief article)

Just before Cauley started selling off his HOMB stock, one of his many real estate ventures--Coco Mountain Ranch LLC--broke ground on the second phase of the Mountain Ranch multiuse project in west Fayetteville.

We hear that some plat questions that were holding up progress are about to be resolved. And we see that Coco Mountain Ranch LLC filed a lawsuit against the project's original developer, Tom Terminella, and then suddenly dropped it.

In the complaint, which was filed in U.S. District Court in Fayetteville on March 17 and dismissed last Thursday, Coco Mountain said it wanted back the $527,000 it paid Terminella for consulting services over a 10-month period starting in November 2007.

"Despite the payments by Coco to Terminella, Terminella provided minimal consulting services," according to the complaint filed by Cauley's former partner, Curtis Bowman.

The lawsuit alleges that Terminella has been "blackmailing Coco through threats of litigation and slander" with the purpose of obtaining money to finance "his other coercive litigation against Metropolitan National Bank." (Terminella lost that one.)

That, according to Terminella's lawyer, Robert Ginnaven of Fayetteville, is a reference to Terminella's demand for $1.87 million that he believes Cauley still owes him in the Mountain Ranch deal.

Good luck with that.

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