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baseline for calculating damages or as a trigger for rescission rights.
through rescission rights to create incentives to take care, the remedy
Rescission rights are widely criticized, however, mainly because people
As a result, it was determined that the 1.6 million common units that were issued after the filing of our Form 10-K on February 26, 2016 up to and including May 19, 2016 under our ATM program may be subject to rescission rights for an amount equal to the purchase price paid for the units (or the difference between the purchase price paid and the price at which the units were sold, assuming a loss), plus statutory interest and less any distributions paid, upon the return of the units to us.
And at the Linden78, at 230 West 78th Street, buyers were given rescission rights in April.
Reese also alleges in her lawsuit brought in New York State Supreme Court May 18 that the sponsor of the struggling development Linden78, at 230 West 78th Street, owes her $70,000 in commission fees even though the sponsor offered rescission rights to all buyers in mid-April.
The sponsors of Linden78, a 33-unit condominium at 230 West 78th Street, offered rescission rights to all of the project's buyers in mid-April, according to a statement provided exclusively to The Real Deal from the developer, Urban Residential.
"As a result of the delays, a provision of the condominium offering plan required the developer to offer rescission rights to purchasers."