41-47 Nick LLC v. Odumosu, 2024 NY Slip Op 24167 (2024)

Citation: 41-47 Nick LLC v. Odumosu, 2024 NY Slip Op 24167 (2024)
Parent Document: 41-47 Nick LLC v. Odumosu, 2024 NY Slip Op 24167 (2024)
Jurisdiction: New York (state)
Effective Date: 2024-06-11
Original Source: https://www.courtlistener.com/opinion/9687483/41-47-nick-llc-v-odumosu/ ↗

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Regardless, petitioner contends, "under any theory of fraud and/or a totality of the circumstances there is no basis to vacate the Order and [r]espondent's motion should be denied (emphasis added)." (Id. at 4.) Petitioner takes the position that "[t]he recent legislation did not modify the four-year rule. . . . [I]t only clarified the standard for establishing the fraud exception thereto." (Id. at 5.) Petitioner argues that because there has been no fraudulent deregulation of the premises, and respondent has at all times during his 30-year tenancy enjoyed the protections of the rent stabilization laws at a rent far below the deregulation threshold in effect at any given time, a fraudulent scheme to deregulate does not exist; therefore, the default formula may not be utilized to calculate an overcharge. (Id.)

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