In a dispute involving fraudulent wire transfers, district court grant of summary judgment for defendant is affirmed where: 1) plaintiff's action is governed by the Uniform Commercial Code and thus its claim that defendant wrongfully debited its account is time-barred by the UCC's one-year statute of repose; and 2) plaintiff's common law negligence claim is precluded by U.C.C. Article 4A.
Appeal from the United States District Court for the Southern District of New York.
Argued: May 6, 2009
Decided: August 11, 2009
Before WINTER and CABRANES, Circuit Judges.
Opinion by CABRANES, Circuit Judge
For Plaintiff: JOSEPH A. KILBOURN, Cone & Kilbourn, Mount Kisco, NY.
For Defendant: EDWARD L. POWERS, Bingham McCutchen LLP, New York, NY.