Zimmerman v. Rosenthal (In re Pasco Tobacco Co.)

OPINION

EMIL F. GOLDHABER, Bankruptcy Judge:

The issue before us springs from the defendant’s motion for summary judgment. The question is which statute of limitations is applicable to the instant complaint brought by the trustee against the defendant, the former president and sole shareholder of the bankrupt, to recover monies which the defendant allegedly wrongfully diverted from the bankrupt to his own use. We conclude that the appropriate statute of limitations is the six-year statute asserted by the trustee, rather than the two-year statute urged by the defendant. Accordingly, we conclude…