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Case 25-23251-MEH Doc 47-1 Filed 01/05/26 Entered 01/05/26 16:34:06 Desc
Exhibit 1 - Declaration of Leonard A. Bennett Esq. Page 7 of 30
18. Mr. Weinstein’s deposition testimony also highlighted Seaview’s inability to meet
its financial obligations or maintain the property. Id., 94:25-95:6, 96:17-97:16. He admitted that
the rental income from the Seaview building was grossly insufficient to cover even routine
expenses. In fact, Mr. Weinstein testified that “there wasn’t a lot coming in . . . on the income side”
and that whenever costs needed to be paid – whether payroll or other expenses – he personally
“added funds to cover those expenses” out of his own pocket. Id., 80:21-25. This aligns with the
tenant lawsuit allegations that Weinstein siphoned off income for personal use and failed to
reinvest in upkeep.
19. Despite these personal infusions, Mr. Weinstein could not keep the property in
compliance with safety requirements. The condemning of Seaview Apartments, twice, illustrates
that the company lacked the resources or willingness to maintain habitable conditions.
20. In the October 2025 deposition, Mr. Weinstein discussed insurance coverage for
the property and pending litigation. He acknowledged that he had filed an insurance claim related
to the Seaview’s failing elevators, but that claim was denied by the carrier (identified as Travelers
Insurance). Id., 7:23-8:25. He further testified that he sought coverage or defense under a liability
insurance policy for the tenant claims, but no insurer agreed to defend or cover Seaview in the
litigation. Id. In other words, by late 2025 Seaview had no insurance funds available to pay for the
extensive property damage or the tenant’s alleged losses. All repair costs and legal expenses were
being borne (or ignored) by Mr. Weinstein directly, with no safety net for the company’s liabilities.
The lack of insurance recovery compounded the financial distress and made it even less likely that
Seaview could ever remedy the building’s issues on its own.
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