Legal Question in Real Estate Law in New York
Hello - I live in a coop in new york. we recently held a special meeting to elect the new board directors. Can the election be challenged? if so, how do we go about it
2 Answers from Attorneys
Maybe. However, to give a true answer I would have to read the bylaws.
Mike.
If the meeting was not conducted in accordance with the Business Corporations Law and the corporate bylaws, you can challenge the election. You need to focus on your objective, as setting aside the election will be expensive and time-consuming. Was there a small turnout due to inadequate notice of the meeting? Do you believe that a properly-noticed sale will produce a different outcome? Then you should speak with a lawyer. Be prepared to assemble "your side" to share the costs. I would insist on a substantial retainer before accepting this case, for a variety of reasons, starting with the fact that the plaintiffs' coalition might not give me confidence that it will stick together long enough for the case to be resolved and the legal bills paid.