COOP BOARD ACTED IN GOOD FAITH, WITHIN THE SCOPE OF ITS AUTHORITY AND FOR A LEGITIMATE CORPORATE PURPOSE PURSUANT TO THE BUSINESS JUDGMENT RULE IN TERMINATING PROPRIETARY LESSEE.

Case: 1855 7 Avenue Housing Development Fund Corporation v. Wigfall

Citation: Civil Court, New York County, NYLJ 3/21/14, Pg. 29, Vol. 251, No. 54

Attorney: Robert Silversmith, Rachel Siskind and Jason Garber

The Proprietary Lease was terminated, because of 744 incidents of objectionable conduct. In phase one of the trial, the Landlord proved it had followed the Business Judgment Rule and therefore Phase 2 of trial establishing the incidents was not necessary.