New York Court of Appeals
State of New York, Appellant v. Seventh Regiment Fund, Inc., Respondent
June 4, 200298 N.Y.2d 249
Summary
The New York Court of Appeals reversed the Appellate Division’s grant of summary judgment to the Seventh Regiment Fund, Inc., holding that the State is not exempt from the statute of limitations when suing to recover personal property and that factual issues preclude summary judgment on the accrual date. The court declined to create a sovereign‑capacity exception and remanded for determination of whether the Fund was a bona fide purchaser and when the State’s conversion claim accrued.