As you know Defendants State Parkway Condominium, Lieberman Management Services, Inc., and Donna Weber are mired in lawsuits with various insurance companies. I must admit I’m surprised Defendants are taking the risk because most insurers can enforce an exclusion due to active and deliberate fraud or dishonesty, and seek reimbursement for the costs of defending the action, which are already well in excess of $1.2MM.
Who will fork up the $1.2M-1.6M? State Parkway’s board of directors, which just levied a $500K special assessment for… legal fees even though there’s an obvious conflict of interest? I doubt it as it’ll do everything they can to stick it to the unit owners via another special assessment even though State Parkway’s Declaration contains an exculpatory clause except for findings of fraud and/or gross negligence.
Copy of the initial Reservation of Rights letter can be found 03083 38-7 10 24 17.