Lanikea Association of Apartment Owners (AOAO) has been sued. AOAO has been named as a co-defendant in a construction defects lawsuit filed by one or more of Lanikea Owners (Nakagawa et al vs. A&B et al).
Recently all Owners received documents pertaining to the upcoming Annual Meeting of the Association, including the election of Directors, but there was no mention of the lawsuit. Neither the Board of Directors, nor the Property Management, nor Lanikea's Legal Counsel has informed Lanikea Owners about the lawsuit, which is outrageous given the seriousness of the matter and its implications.
Lawsuits against condo associations are material facts affecting all Owners. Besides of legal costs of the litigation, condominium projects with litigation have limited availability of mortgage financing as lenders do not want to lend on condo units in projects with pending lawsuit(s). This has an immediate detrimental effect on property values and marketability of all condo units in such project.
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