Co-Op Board Reversed a Prior Resolution Which Permitted the Co-Op’s Then President to Enclose a Roof Terrace and Create a Master Bedroom Suite and Bath Without Allocation of Additional Shares or Increase in Maintenance—President Had Allegedly Pressured Co-Op’s Attorney and Managing Agent to Approve Such Agreement—Co-Op Argued That the Statute of Limitations Had Tolled Pursuant to the “Open Repudiation Rule” Which Tolls the Statute Until a Fiduciary Has Openly Repudiated His or Her Obligation or the Relationship Has Otherwise Been Terminated—Co-Op Failed to Communicate With Its Own Attorney and Managing Agent—President’s Self-Interest Was Obvious—He Was Not Acting in the Fiduciary Capacity When He Was Openly Arguing for His Own Benefit—Doctrine of “Unclean Hands”
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