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If a special shareholder's meeting is being called for the purpose of voting to terminate a shareholder's tenancy, as happened in the Pullman case, does the shareholder that the Corp wants to oust get to vote? In other words, is the 75% majority needed to succeed in terminating their lease comprised of 100% of shares excluding the shareholder in question? In the 2006 Lapidus case, an article in NY Times states 98% of shareholders voted in favor of terminating Lapidus' lease--this percentage in favor seems impossible if shareholder Lapidus was allowed to vote. Hence my question of who is allowed to vote at the special meeting.
Yes, check your lease - in some cases it requires a majority of the shares to approve OR a 2/3 or 3/4 vote by the board. In any case, have a strong paper trail to substantiate your claim and work closely with the lawyer. As long as the shareholder being accused is still a shareholder, then they should be able to vote.
Isn't this rather a nuclear response? I mean, Pullman?
I know you can't talk about specifics on a public forum, but eviction can handle anything from hoarding and pest-created problems by a SH, and financial things like missing maint. payments. The law can handle someone violent or threatening.
What does that leave? Kicking someone out because you don't like him or her? So they're rude in the elevator? So what? Are they suing the board? Lots and lots of SHs sue boards -- and sometimes they win, because boards aren't always right. You're allowed to sue a board without being kicked out of your house. What could someone possibly be doing to deserve this, and have you tried other means of resolution? A mediator maybe? Or do you just go nuclear?
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Check your Proprietary Lease for details on terminating a lease for "objectionable conduct" -- it's often Paragraph 31(f). Different leases have different procedures: some require only a 2/3 majority vote of the Board. Take a look at the decision in London Terrace Towers v. Michael Davis.
Most importantly: Consult your lawyer! This is a drastic and awful step for everyone involved.
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