Condo owners or their relatives will hit the Condo Board with 150 million lawsuit.
The condo owners have a big problem because they were the ones who had to approve then assessments for the repairs and failed to do so in time. In effect, they’ll be suing themselves. After all, if you own a single family house that falls down due to your failure to do timely repairs, you’re on the hook. Then, making the wicket even stickier, there are the owners the other, similar condos that haven’t collapsed yet who’ve suddenly lost most of their equity and will probably sue the owners of the collapsed condos for negligently failing to do timely repairs, thereby devastating the other condos’ value.