AOZORA BANK, LTD. v. UBS AG

652162/13, 1789A, 1789.

144 A.D.3d 436 (2016)

2016 NY Slip Op 07258

40 N.Y.S.3d 406

AOZORA BANK, LTD., Respondent, v. UBS AG et al., Appellants.

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

Decided November 3, 2016.


The motion court erred in denying defendants' motions to dismiss the fraud claims as time-barred (see CPLR 3211 [a] [5]). The parties agree that the timeliness of the claims depends on whether plaintiff "discovered the fraud, or could with reasonable diligence have discovered it," more than two years before the filing of the complaint on June 18, 2013 (CPLR 213 [8]). The record demonstrates that plaintiff could, with reasonable diligence, have discovered the alleged...

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