Scott Pashman was quoted in Habitat Magazine in an article examining the legal consequences for co-op and condo boards that fail to uphold their fiduciary responsibilities.

Scott explains the two key duties that board members must follow, the duty of care and the duty of loyalty, and outlines how decisions made in bad faith or for personal gain can expose boards to significant liability. “You can’t make decisions that benefit your friends or your family or yourself,” Scott said. “You have to make decisions that are in the best interest of the building.”

The article focuses on a case involving the Parc Vendome condominium in Manhattan, where a unit owner successfully sued the board for acting in bad faith. Scott provides commentary on the outcome and what it signals to other boards, emphasizing that courts are willing to hold board members accountable when fiduciary duties are breached.

Click here to read the full article.