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KIDDER, PEABODY & CO., INC. v. McARTOR

223 A.D.2d 502 (1996)

637 N.Y.S.2d 99

Kidder, Peabody & Co., Incorporated, et al., Respondents, v. John W. McArtor, Individually and as Trustee of Delta Incorporated International, Inc., Profit Sharing Plan, et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

January 30, 1996

The IAS Court properly determined that the arbitral claims of respondents, Tennessee residents, for, inter alia, breach of contract, common law fraud, negligence, and breach of fiduciary duty, arising from investments made prior to May 4, 1990, were time-barred under the Tennessee Statute of Limitations applicable pursuant to New York's borrowing statute (CPLR 202). The Court of Appeals has recognized that "[u]nder the New York borrowing statute (CPLR 202), a securities...

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