13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
- Citation
- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
- Parent Document
- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
- Jurisdiction
- New York (state)
- Effective Date
- 2004-06-29
Other Sections in This Document (76)
- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
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- 13315 Owners Corp. v. Kennedy, 4 Misc. 3d 931 (2004)
Full Text
2,049 charsConsiderable argument has been made against applying Pullman to a board vote. Some contend, in law journal articles since Pullman, that Pullman reduces shareholder-tenant protection against arbitrary and discriminatory eviction. (See e.g. John Caher, Co-op Boards Given Broad Power to Evict: Business Judgment Rule Applies to Terminations, NYLJ, May 14, 2003, at 1, col 3; Joel E. Miller, Court of Appeals Holds Courts Powerless to Review Cooperative’s Factual Findings, 32 NY Real Prop LJ [No. 1] 4, 8 [2004] [“Whether arrived at by the board or by the shareholders, it cannot be denied that a cooperative’s factual *941findings are not tested by the safeguards that our law usually requires before someone can be deprived of valuable personal and property rights”]; Menachem J. Kastner and Jarred I. Kassenoff, Cooperatives Authorized to Use Business Judgment Rule in Terminating Shareholder Leases, 75 NY St BJ 32, 38 [July/ Aug. 2003] [noting that tenant advocates worry that Pullman will provide pretext for cooperative boards “to remove shareholders with legitimate ‘warranty of habitability’ issues”]; Vincent Di Lorenzo, The Business Judgment Rule and Fiduciary Obligations Are Applied to Shareholder Decisions in Cooperative Housing Corporations, 32 NY Real Prop LJ [No. 1] 10 [2004] [noting that controversy over Pullman results from business judgment rule’s adoption in context of court’s decision to terminate unit owner’s lease, cancel shares, and evict]; Steward E. Sterk, Jurisprudence Taking Shape on Facts and Law, NYLJ, Sept. 2, 2003, at S10, col 1 [arguing that Pullman was “(p)erhaps the most controversial decision of the Court’s 2002-03 term”].) If Pullman applies to board votes as well as shareholder votes, the courts will, some believe, increasingly erode shareholder-tenant protection, since rather than requiring a majority of the shareholders to consider the shareholder-tenant’s conduct “objectionable” before the cooperative evicts the shareholder-tenant, it will be enough that a board of several members finds it so.