In re Hershkowitz

*907Cheryl Hershkowitz (hereinafter the decedent) was a shareholder/lessee in a cooperative building owned by the respondent/defendant White House Owners Corp. (hereinafter the corporation). Wells Fargo Bank (hereinafter the lender) held a mortgage in the amount of $340,000 secured by the shares and proprietary lease appurtenant to the decedent’s apartment. According to the corporation’s by-laws, its offering plan, and Paragraph 16 of the proprietary lease, a shareholder was *908required to obtain the approval of the Board of Directors before assigning the lease or transferring the shares allocated…