In The News

Condo Buy Called Arm’s Length, But Was Arm Long Enough?

Board IQ

15 Jan 2019

Is it appropriate for an independent board member to purchase real estate that benefits management-related parties? Morrison & Foerster’s Kelley A. Howes explains in the Board IQ article “Condo Buy Called Arm’s Length, But Was Arm Long Enough?”

“You can effectively be affiliated if you are engaged in a transaction that is more than de minimis,” she said. “Depending on the board structure, if one board member all of a sudden is not independent, that can screw up everything.”

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