Monthly Archives: September 2015

Marbury Corners: A Legal “Cond-Opera” in Three Acts

The Board of Managers of the Marbury Club Condominium (the “Board of Managers” or the “Board”) [the “Condominium”], filed suit against Marbury Corners LLC (the “Sponsor” or “MC LLC”), Ginsberg Holdings LLC, Martin Ginsburg (“Ginsburg”), William Riehl, Susan Newman, Dan Mulvey and Rob Lodes (collectively, “Defendants”).

The action arose out of the conduct of Sponsor (the developer under a residential condominium conversion plan, its manager and principal), together with the sponsor-appointed and controlled initial board of managers of the Condominium, in signing a $2.2 million note to Sponsor (the “Promissory Note” or the “Note”)  secured by an assignment of, and a security interest in, common charges collected by the Board from unit owners.

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