CooperativesConstruction DefectsLiability of sponsors, Engineers, Managers, AttorneysBreach of ContractThird Party BeneficiariesFraud Breach of Fiduciary DutiesAiding and Abetting Breach of Fiduciary DutiesGeneral Business Law §349Unsold SharesMartin Act
This case involved alleged defects in the physical condition of premises which had been converted into 48 cooperative apartments. The owner, a cooperative corporation (plaintiff), alleged that the defects were caused by the co-op’s sponsor, its management company (manager), the sponsor’s engineers (engineer), the original plaintiff’s Board of Directors who acted on behalf of the sponsor, and the entity that transferred ownership of the premises to the sponsor. The plaintiff asserted claims for “breach of contract, breach of the rights of third party beneficiaries of contracts with the Sponsor, fraud, breach of fiduciary duties, aiding and abetting…breach[es] of fiduciary duties, violations of the General Business Law [GBL §349], and Declaratory Judgment.” Certain defendants had moved for summary judgment and the plaintiff sought summary judgment on its declaratory judgment cause of action.
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