Gramercy Park Block Association - Neighborhood News #356
Ousted Arts Club Head Removed From Lawsuit
By Brendan Pierson
New York Law Journal
May 8, 2013
A unanimous Appellate Division, First Department, panel yesterday ruled that the former president of the non-profit National Arts Club, O. Aldon James Jr., cannot bring a derivative lawsuit on behalf of the club accusing its current and former directors of wasting corporate assets, because James himself was removed from the club for misusing funds, creating a conflict of interest.