Self-Dealing and Fiduciary Breach
Contracts, fees or benefits flowing to a board member, a managing agent, or an entity affiliated with either, without disclosure or arm's-length process.
NEW YORK
No agency has jurisdiction
A plenary action, usually derivative, which must first clear the demand-futility hurdle before anyone reaches the merits.
2 verified cases — 0 against a board, 1 for a board, 0 split, 1 open. No clean finding of liability against a board in this bucket.
What the managing agent is said to have done
Ran the condominium's repair contracting in its own interest rather than the owners' — the board's own claim against the managing agent it had hired.
No tribunal ever decided this.
Open — allegation, not a finding — merits not decided; allegation, not a finding
What a board member is said to have done
Sought to have the condominium pay his personal legal expenses in litigation the board itself had brought.
A tribunal rejected this claim.
Board prevailed — merits not decided; allegation, not a finding