Practice point: Absent evidence of self-dealing, fraud or some other breach of fiduciary duty, a shareholder will not defeat the business judgment rule in disputing a coop board's decisions regarding repairs to the building.
Practitioners should note that, by refusing to pay assessments for major structural repairs, a plaintiff waives the claim for breach of the covenant of quiet enjoyment.
Case: Parker v. Marglin, NY Slip Op 09266 (1st Dept. 2008)
The opinion is here.
