Decker

OPINION AND ORDER THEREON

I. Introduction

The proceeding before the Court is the culmination of many years of litigation that commenced in 1992 when the trustee sued to recover a fraudulent transfer. After receiving a judgment for the value of the fraudulent transfer, the trustee was thereafter thwarted from collecting the judgment for the estate. When she was unable to recover from the transferee, the trustee sued the immediate transferee. The question that now arises is whether the one-year statute of limitations for an action against the immediate transferee commenced running when the Court ruled in the underlying fraudulent transfer action or when the judgment was entered on the docket twenty-four days later. For the reasons hereinafter explained, the Court holds that the complaint was not timely filed.

II. Background

In 1992, Suzanne L. Decker, the Chapter 7 trustee, commenced an adversary proceeding to set aside a transfer of property from the debtor, Sophie Serrato, to her son, Frank Voisenat. The trustee alleged that Serrato quitclaimed property to Voisenat in September 1988 in an attempt to defraud her creditors. At trial, testimony revealed that Voisenat then sold…