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The Business Judgment Rule Rides to a Condo Board’s Rescue (NY)

/ Owner - September 29, 2020

The board of managers at a Brooklyn condominium has learned, first-hand, about the thickness of the armor provided by the Business Judgment Rule. State Supreme Court Justice Kathryn E. Freed has dismissed a lawsuit against the board at the Bridgeview Tower Condominium, at 189 Bridge St., saying the suit was “procedurally defective” and the board was shielded from judicial second-guessing because it acted within the scope of its authority, in good faith, and for the betterment of the condo association – the prime tenets of the Business Judgment Rule.     Read the article………………………………………

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