Court of Appeals of New York

In a limited-profit housing company's suit seeking to compel the Attorney General to accept a second amendment seeking to declare its privatization plan effective and to direct the New York City Department of Housing Preservation and Development (HPD) to recognize that the plan achieved the necessary two-thirds shareholder vote under the one-vote-per-share formula, appellate division's decision affirming the Supreme Court's denial of the petition is affirmed where: 1) the Martin Act applies to the proposed privatization of a Mitchell-Lama cooperative apartment complex; and 2) based on the circumstances of this case, a vote to determine whether the cooperative withdraws from the Mitchell-Lama program must be counted on a per-apartment basis rather than a per-share basis.

Appellate Information

• Decided 11/19/2012
• Published 11/19/2012

Judges

• Graffeo

Court

• Court of Appeals of New York

Counsel