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HELMSLEY v. BOROUGH OF FORT LEE

82 N.J. 128 (1980)

411 A.2d 203

HARRY B. HELMSLEY ET AL., PLAINTIFFS-APPELLANTS, v. BOROUGH OF FORT LEE ET AL., DEFENDANTS-RESPONDENTS. AMERICANA ASSOCIATES ET AL., PLAINTIFFS-APPELLANTS AND CROSS-RESPONDENTS, v. BOROUGH OF FORT LEE ET AL., DEFENDANTS-RESPONDENTS AND CROSS-APPELLANTS. NEW JERSEY REALTY COMPANY ET AL., PLAINTIFFS-APPELLANTS AND CROSS-RESPONDENTS, v. BOROUGH OF FORT LEE ET AL., DEFENDANTS-RESPONDENTS AND CROSS-APPELLANTS.

The Supreme Court of New Jersey.

Decided January 22, 1980.

Attorney(s) appearing for the Case

Richard F. Aronsohn, Martin Kesselhaut and David N. Ravin for appellants (Aronsohn, Kahn and Springstead and Ravin and Kesselhaut, attorneys; Aronsohn, Lauren B. Cohen, Kesselhaut and Bernard Schenkler, on the briefs).

William T. Reilly for respondents (McCarter and English, attorneys; Richard C. Cooper, of counsel).

PER CURIAM.

This proceeding involves distribution of the Fort Lee Escrow Fund. Originally established by trial court order on July 31, 1975, it permits landlords to raise rents in accordance with the percentage increase of the Consumer Price Index on condition that the difference between that percentage and 2.5% be held in trust. Participating landlords were required at the outset to contribute retroactively to November 1974, when Fort Lee Ord. No. 74-32 became...

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