Okuhara v. Broida

OPINION OP THE COURT BY

RICHARDSON, O.J.

Plaintiffs 1 sued Max M. Broida, trustee for Broida Properties, Ltd., a dissolved corporation, to recover alleged overpayments of rent. Prior to dissolution, Broida Properties, Ltd., hereinafter called Broida, was the lessee by assignment from another Hawaii corporation of several parcels of land, two of which were subject to pre-existing subleases to the plaintiffs. On November 15, 1960, the fee owner increased Broida’s monthly rental from $2,500 to $9,375, an increase of 375%. Broida increased the rent of each of its subtenants by 375%, relying upon…