Firestone v. Anthony J. Contello Housing Co.

Petitioners, shareholder-lessees of the respondent company (hereinafter referred to as the company or as Contello), a limited-profit co-operative operating a Mitchell-Lama housing project pursuant to article II of the Private Housing Finance Law (PHFL), instituted this article 78 proceeding to compel the company, among other things, to turn over the full price of the sale ’ ’ of petitioners ’ stock.

In other words, petitioners are contesting the company’s asserted legal obligation to impose a surcharge upon petitioners’ carrying charges for the years 1970, 1971, and for that part of the year…