NY High Court Lets Stuy Town Tax Break Suit Live On

Law360, New York (October 22, 2009, 5:05 PM EDT) -- The New York State Court of Appeals on Thursday sided against landlords Metropolitan Life Insurance Co. and Tishman Speyer Properties LC in their dispute with numerous residents of Stuyvesant Town and Peter Cooper Village who accused the companies of illegally pocketing almost $25 million in tax breaks.

The state's highest court ruled in favor of nine tenants of the 11,200-apartment complex, who alleged in 2007 that the companies disregarded the New York City J-51 program, which provides real estate tax relief on the condition that landlords...
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