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The State of the Business Judgment Rule Appellate Court Rulings By Adam Leitman Bailey

February 2016 By Adam Leitman Bailey   The greatest changes in cooperative and condominium law this past year did not come from the legislature or from the courts but from the New York Attorney General’s office (NYAG).  This article will review some of those changes and the most significant appellate cases affecting cooperatives and condominiums.  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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State Legislators, Insurers and Courts to Homeowner Associations: We Will Not Insure Intentional Torts, Probate Property

By Adam Leitman Bailey & Adam Blander September 1st, 2013 Adam Leitman Bailey is the principal of Adam Leitman Bailey, P.C., in New York, New York. Adam Blander was a legal intern at Adam Leitman Bailey, P.C., and is now a law clerk for New York Supreme Court Judge Barbara Jaffe. This article discusses the  Full Article…

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Sandy, One Year Later: Issues Facing Property Owners, New York Law Journal

By Adam Leitman Bailey & Dov Treiman October 9th, 2013 Real estate lawyers have been and will be the leaders of the rebuilding process of our storm-torn city. One of our most important functions is to prepare for the next storm or potential casualty. In order to improve our lawyering it is essential that we  Full Article…

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Who’s in charge when ice is falling?, Real Estate Weekly and Apartment Law Insider

By Adam Leitman Bailey and John M. Desiderio January 28th, 2014 So far this winter, New York City has had two severe snow-falls, with accompanying frigid temperatures, and it appears that this weather pattern is likely to hold through the end of February. As a result, snow and ice is accumulating on the roofs and  Full Article…

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Adam Leitman Bailey, P.C. Protects Insured Lender in Common Charge Lien Foreclosure Proceeding

In Board of Managers of Lorraine Terrace Condominium v. Annor, et. al., Adam Leitman Bailey, P.C. successfully protected an insured Lender‘s security interest in a Westchester condominium property, in defeating Plaintiff’s claim that the Lender did not hold the “first mortgage of record” as is defined by § 339-z of New York’s Real Property Law. Section 339-z gives  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 theBusiness 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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