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  5. 69 N.Y.2d 448 (1987)
 

DE KOVESSEY v. CORONET PROPS.

69 N.Y.2d 448 (1987)

Elisabeth De Kovessey, as Executrix of Elisabeth Thomson, Deceased, Respondent, v. Coronet Properties Co. et al., Appellants, et al., Defendants. In the Matter of John I. Lipkowitz, as Executor of Herman L. Wasserman, Deceased, Respondent, v. Coronet Properties Co., Appellant. Sarah Lagary et al., as Administrators of The Estate of Robert Legary, Deceased, Respondents, v. Wiener Management, Appellant. Amsterdam Manhattan Associates et al., Appellants, v. Estate of Maria Leichtman, by Nomi Rinke, as Preliminary Executrix, Respondent.

Court of Appeals of the State of New York.

Decided April 30, 1987.

Attorney(s) appearing for the Case

Ronald J. Berk for appellants in the first above-entitled action and for appellant in the second above-entitled proceeding.

Gale Fieldman for respondent in the first above-entitled action.

John I. Lipkowitz, pro se, and Martin Novack and Paul H. Appel for John I. Lipkowitz, respondent in the second above-entitled proceeding.

Barbara E. Olk, Joel S. Sankel and Ted Trief for appellant in the third above-entitled action.

Lawrence M. McKenna for respondents in the third above-entitled action.

Justin N. Feldman, Ingrid R. Sausjord and Carol Salem for appellants in the fourth above-entitled action.

Aaron Gelbwaks and Lonnie S. Rosenberg for respondent in the fourth above-entitled action.

Chief Judge WACHTLER and Judges SIMONS, KAYE, TITONE and HANCOCK, JR., concur; Judge ALEXANDER taking no part.

BELLACOSA, J.

In four cases heard and decided together, the appellants-sponsors assert that they have been erroneously required to permit the respondents-estates to purchase shares, at the less-than-open-market insider price, under cooperative conversion plans in the place and stead of their respective decedents. The sponsors each made offers to "tenants in occupancy" in rent-controlled apartment buildings being...

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