Subletting a coop apartment question.

Coop apartment owner wants to sublease his apartment to a prospective tenant. The prior subletting tenant was there for years and moved on. Prior to owner looking for a new tenant, coop board changed subleasing application to be very burdensome, expensive and time consuming. Before this it was a one page agreement. Prospective tenant had bad credit and the board rejected his application. Any recourse? Apartment owner owns shares free and clear of any liens/mortgages. Apartment owner also offered to pre-pay 12 months of the monthly maintenance costs prior to prospective tenant moving in. Are owner and prospetive tenant out of luck? Board says decision is final