Connecticut Court Strips Delinquent Developer Of Condo Association Control Amid Allegations Of Violations Of Unit Owners' Rights

In Hartford, Connecticut, Hartford Business reports:

• A Hartford Superior Court judge has ordered a third party receiver to take possession of all accounts and records of the Bushnell on the Park Condominium Association, as the property's majority owners continue to face a host of legal and financial problems.

• Superior Court Judge James T. Graham ordered June 25 that Trio Real Estate Services take immediate possession of all accounts and records of the association, according to Avon lawyer Jonathan Starble, who is representing nearly a dozen Bushnell on the Park condo owners who filed suit against the property's majority owners, alleging they have violated state condo laws.(1) Trio will report to the court and take actions to manage the affairs of the association, Starble said.

• A key concern is whether Bushnell Regency, the company that owns 129 condominium units within the 180-unit complex at 100 Wells St. and is also facing foreclosure, has been paying its fees owed to the Bushnell on the Park Condominium Association. The suit alleges that the principals of Bushnell Regency have repeatedly refused to provide financial records to association members, and failed to collect dues or make necessary repairs to the building.

For more, see Bushnell on the Park Condominium Association placed in receivership.

(1) "It is the first time, to my knowledge, that a receiver has been appointed for a condo association in Connecticut," Starble reportedly said. "It is an extraordinary measure, but it was made necessary by extraordinary circumstances. My clients applaud the court's decision to provide an equitable temporary remedy for home owners who have been the victims of egregious breaches of fiduciary duty. As a result of the actions of Bushnell Regency, the Association finds itself in financial distress and with a building in disrepair. To be clear, this situation is not a result of the economy; it is a result of one company's actions."