FRAUDULENT CONVEYANCES Nassau Academy of Law CLE Live ...

Page 6257 A.D.2d 526, 684 N.Y.S.2d 244, 1999 N.Y. Slip Op. 00749(Cite as: 257 A.D.2d 526, 684 N.Y.S.2d 244)conveyance occurs or within two years of the datethat the fraud or conveyance is discovered or shouldhave been discovered, whichever is longer (CPLR203[g]; Leone v. Sabbatino, 235 A.D.2d 460, 461,652 N.Y.S.2d 628; Ghandour v. Shearson LehmanBros., 213 A.D.2d 304, 305, 624 N.Y.S.2d 390 lv.denied 86 N.Y.2d 710, 635 N.Y.S.2d 947, 659N.E.2d 770; Bernstein v. La Rue, 120 A.D.2d 476,478, 501 N.Y.S.2d 896 appeal dismissed 70 N.Y.2d746, 519 N.Y.S.2d 1032, 514 N.E.2d 390). Here, thealleged fraudulent transfer of Enseco shares tookplace in 1984 and the plaintiff discovered it in 1986.Thus, the time limitation on plaintiff's claim hadclearly expired by 1994, which was the approximatetime defendants' representation of plaintiff ceased.Defendants' reliance on DCL §§ 273-a and 278, inasserting that the claim accrued at the time the judgmentwas obtained and thus had not expired when theattorney-client relationship ended, is misplaced herewhere it is not alleged that the arbitration of thefraudulent conveyance claims herein was pendingagainst Wise and Friedman at the time of the conveyances(see, Leone v. Sabbatino, supra).N.Y.A.D. 1 Dept.,1999.Wall Street Associates v. Brodsky257 A.D.2d 526, 684 N.Y.S.2d 244, 1999 N.Y. SlipOp. 00749END OF DOCUMENT© 2009 Thomson Reuters. No Claim to Orig. US Gov. Works.