C.A.T. LLC. v. Island Developers, Ltd.

FLETCHER, Judge.

C.A.T., LLC., [CAT] brought suit derivatively on behalf of the Fisher Island Com*374munity Association, Inc. [FICA], seeking a declaratory judgment that the developers of Fisher Island improperly conveyed certain real property to the Fisher Island Club, Inc. [the Club]. CAT alleged that the property actually belongs to FICA and that the initial developer of Fisher Island anticipatorily breached an agreement to convey the property to FICA at a future date. CAT’s suit was brought to an abrupt end when the trial court dismissed it, having concluded that a stockholder’s derivative…