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Attorneys Answer Six More Questions Boards Have About Superstorm Sandy, Habitat Magazine

By Adam Leitman Bailey, Leonard H. Ritz and Dov Treiman Jan. 15, 2013 — In this second of two installments, leading real-estate attorneys answer more condo and co-op board members have been asking about what’s expected of them and of shareholders / unit-owners in the terrible aftermath of superstorm Sandy. Q: Does the Board have  Full Article…

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Finding Individual Tort Liability for Cooperative and Condominium Board Members, the Appellate Division Takes a Large Scalpel to Business Judgment Rule, Thompson Reuters News & Insight

By Adam Leitman Bailey, John M. Desiderio (Adam Leitman Bailey is the founding partner of Adam Leitman Bailey P.C., and John M. Desiderio is Chair of the firm’s Real Estate Litigation Group. Colin E. Kaufman, another firm partner, contributed to the insurance issues discussed in the article.)  Recently, the Appellate Division First Department, in Fletcher  Full Article…

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Applying the Business Judgement Rule: Individual Tort Liability for Co-op & Condo Boards, The Cooperator

By Adam Leitman Bailey February 1st, 2013 Recently, the Appellate Division First Department, in Fletcher v. Dakota, Inc., involving a shareholder in The Dakota, a historic luxury co-op on the Upper West Side, held that the business judgment rule does not protect individual condo and co-op board members from personal tort liability where a board  Full Article…

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Owner’s Rights to Inspect Management Records, New York Law Journal and N.Y. Real Property Journal

By Adam Leitman Bailey April 10th, 2013 Since the Legislature gave birth to the first cooperative and condominium laws, very few issues have had as much attention and confusion as boards’ concerns about the extent of unit owners’ access to inspect the management books and records. Regarding cooperative buildings, many of the most prominent questions  Full Article…

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Manhattan Newly Constructed Condominium Takes Over Sponsor Controlled Board and Receives $450k + Apartment + Significant Construction Work without Judicial Intervention

The unit owners of a 24 unit luxury new construction condominium in Manhattan hired Adam Leitman Bailey, P.C. after the unit owners’ complaints and concerns about construction defects were ignored by the sponsor-controlled Board, and demands by the unit owners to the sponsor that the sponsor turn over control of the Board to the residents  Full Article…

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Advising Boards on Handling Secondhand Smoke Issues

By: Adam Leitman Bailey & John M. Desiderio January 30th, 2013 Some of the most intense combat occurring in modern times may not be that which has taken place on the battlefield, but rather in the ongoing conflicts that occur between shareholders, owners, and renters of apartments in multiple dwelling buildings, between themselves and/or with  Full Article…

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Directors and Officers Insurance Does Not Cover Intentional Discrimination

By Adam Leitman Bailey & Colin E. Kaufman In a recent decision that sent shivers of concern across New York co-op and condo boards, the state’s highest court held that the Business Judgment Rule does not protect individual condominium and cooperative board members against some personal liability. In response, real estate and insurance attorneys are reviewing directors and officers (D&O) policies and  Full Article…

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Laws Versus Rules: You Need to Know the Difference

New York’s co-ops and condos are both governed by a multitude of laws and rules… Sometimes, laws that are enacted that mandate change can cause conflict with  co-ops and condos that are used to doing things a certain way. For example, the  Fair Housing Amendments Act mandates that a multiple dwelling with a parking  lot  Full Article…

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