Recent decisions have revived the discussion about rights of sponsors and holders of unsold shares in residential cooperative corporations.

This issue has arisen again because since 2019, some boards have relied on dicta in Pastena v. 61 W. 62 Owners, 169 A.D.3d 600 (1st Dep’t 2019) to argue for an extension of BCL §501(c) beyond “original purchasers”, to holders of unsold shares.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]