Miami NIL King’s Company Sued Over Unpaid Helicopter Bill

John Ruiz, a prosperous attorney and entrepreneur from Miami, is facing a lawsuit from a contractor working for his aviation company. Summit Aviation, a Delaware establishment, alleges that Ruiz’s aviation firm, MSP Recovery Aviation, failed to fully settle a payment for refurbishments done on Ruiz’s Sikorsky S92 helicopter, worth $30 million. The plaintiff claims that MSP Recovery Aviation owes more than $172,000.

The lawsuit was filed in Miami-Dade County on January 22 against the Coral Gables-based enterprise. According to Summit Aviation, both companies agreed on a contract in February 2022 to perform multiple services on the luxurious 19-seater helicopter. A document in the court file identifies tasks such as painting, pressure washing, and mechanical maintenance among others. An invoice from July 2022 indicates a labor cost of $162,000 covering four pages of components and supplies.

MSP Recovery Aviation, however, denies the allegations, stating Summit Aviation not only failed to execute the work as agreed within the specified timeframe, but also charged for services not authorized. They also claim that Summit sold a part worth almost $64,000 that belonged to MSP Recovery Aviation and pocketed the proceeds. They pledged to fight these accusations.

Summit Aviation, through their attorney, declined to comment further other than express optimism in securing payment through the court proceedings. According to the contract, an estimated downtime of 40 to 60 working days was specified for the aircraft. Notable costs outlined in the document include replacing a component in the helicopter’s tail rotor and installing soundproofing material at a charge of $95,000.

Beyond this legal dispute, Ruiz operates a fleet of planes, some of which he has spent a fortune upgrading. In 2022, Ruiz reportedly enlisted the services of VIP Completions, affiliated to SmartJets, to convert a Qantas Boeing 767 into an opulent airborne residence. It boasts two lounge areas, a master bedroom with a queen-sized bed, and a deluxe bath. MSP Recovery, an insurance claim recovery firm where Ruiz holds shares, reportedly lavish spending on air travel.

Ruiz is a recognisable figure in South Florida for hosting a Spanish-talk show “La Ley” and his involvement in significant insurance litigation cases. In 2022, his company, MSP Recovery, came under scrutiny when its shares plummeted after initially going public at a $32 billion valuation. Ruiz has also gained attention for his support of college athletes and the University of Miami’s sports programs. He allegedly invested $14 million in NIL deals covering 165 athletes. Controversy, however, arose when he invited two prospective recruits to his home for a meal, leading to sanctions from the NCAA.