Hill v. Laventhol & Horwath

SPICER, P.J.,

Defendant has moved for summary judgment on grounds that the statute of limitations bars plaintiffs’ cause of action.

Plaintiffs were shareholders in a corporation which sold its assets and was dissolved in 1968. Defendant was engaged to structure the dissolution and distributions in connection therewith so as to minimize individual tax liabilities. Defendant, through an employee, arranged two settlements in late 1968 and early 1969 with a goal of dividing capital gains over two years. Unfortunately, the manner in which distribution was actually made threw the entire gain in 1969.

A…