The Armor of the Business Judgment Rule Can Be Pierced (NY)

Under most proprietary leases and applicable law, cooperative boards are free to disapprove an application to purchase a unit for any reason or no reason – so long as the board does not act for an unlawful reason, such as discrimination against one of the city’s numerous “protected” classes. Therefore, lawsuits challenging a board’s rejection of an application are generally dismissed without a trial. However, “generally” does not mean “always.” A recent lawsuit illustrates the point.      Read the article……………………….

Editor

Recent Posts

NYC Condo Sponsor Defect Case: Court Ruling a Game-Changer for Boards

In a significant decision for New York condo boards and property managers, the Supreme Court…

36 mins ago

Condo lawsuit: Neighbors claim association took parking spaces to make a profit (FL)

A group of neighbors at Buckley Towers condominiums in northeast Miami-Dade claimed in court that…

45 mins ago

Henderson neighbors demand answers after 37-hour deadly barricade (NV)

Residents in a quiet Cadence community in Henderson want answers after a 37-hour-long barricade situation…

18 hours ago

3 Things to Do Today to Prepare Your Association for Disaster (FL)

For board members of homeowners and condo associations in Florida, addressing disaster preparedness and safety/security…

21 hours ago