X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

8913. ROBERT KATZ plf-ap, v. THIRD COLONY CORPORATION, def-res — Zuckerman Spaeder LLP, New York (C. Evan Stewart of counsel), for ap — Braverman & Associates, P.C., New York (Tracy M. Peterson of counsel), for res — Order, Supreme Court, New York County (Anil C. Singh, J.), entered April 19, 2012, which granted defendant’s motion for summary judgment dismissing the complaint with prejudice, and denied plaintiffs’ cross motion for partial summary judgment as moot, unanimously affirmed, with costs.

Defendant is a cooperative corporation that owns a building at 180 East 79th Street, New York County, and plaintiffs formerly owned the shares to apartments 14B and 14C. In August 2011, plaintiffs sold their interest in the two apartments and, under protest, paid a “flip tax” to defendant. Within weeks, plaintiffs commenced this action alleging one cause of action the characterization of which is in dispute. That portion of plaintiffs’ complaint that specified the sole cause of action explicitly and repeatedly alleges that defendant acted “ultra vires,” which plaintiffs argued below. Now, however, in an attempt to make their claim appear viable, plaintiffs avoid characterizing their claim as seeking to prohibit defendants’ ultra vires acts, and instead, they repeatedly characterize their claim as one “for money damages” or an “extraction of money” that was “wrongful,” seeking a money judgment in the amount of the flip tax.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
September 04, 2025
New York, NY

The New York Law Journal honors attorneys and judges who have made a remarkable difference in the legal profession in New York.


Learn More
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
March 24, 2025
New York, NY

Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.


Learn More

Company DescriptionA prominent boutique AV rated Education Law firm located in Westbury, New York. Our firm specializes in education law, sp...


Apply Now ›

Seeking motivated and skilled litigation attorney to join our dynamic defense litigation firm. Role Involves:Conducting thorough research.Ha...


Apply Now ›

DEPUTY PORT ATTORNEY III Oakland, CA Salary: $17,294 - $21,419/month, 37.5-hr work week Your Port. Your Community. Your Career. Whe...


Apply Now ›