Vigilant Insurance of America v. Housing Authority of El Paso
New York Court of Appeals
1Opinion of the Court
OPINION OF THE COURT
Bellacosa, J.
Plaintiffs, collectively referred to as "Vigilant,” are subrogees of Drexel Burnham Lambert. They plead three discretely denominated causes of action that have some overlapping features. A predominant objective is the declaration of their superior right and title with respect to certain bearer bonds and interest coupons issued by defendant Housing Authority of the City of El Paso. The stolen bonds have had a checkered history culminating in two key legal issues on this appeal. First, we must determine the respective Statutes of Limitations applicable to…
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