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Massachusetts Court Affirms Section 42 Right of First Refusal

Thursday, September 15, 2016 - 4:15PM

The Massachusetts Superior Court today issued a decision that affirmed the right of a nonprofit low-income housing tax credit (LIHTC) sponsor to exercise its Section 42 right of first refusal despite efforts of the limited partner to block the sale. The parties will confer on a proposed form of judgment, and if there is disagreement, disputes will be resolved at a hearing Oct. 15.

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