MATTER OF BAIRD, PATRICK CO. v. EPSTEIN

The general rule, that a voluntary discontinuance of an action or proceeding does not toll or extend the Statute of Limitations (see, Matter of Finkelstein [Harris], 17 A.D.2d 137, lv denied 12 N.Y.2d 646) is inapplicable here, where the parties stipulated to discontinue this timely-commenced arbitration proceeding without prejudice to its reinstitution upon the occurrence of a specified future event. Thus, the agreement of the parties should be given its intended effect (see, George v. Mt. Sinai Hosp., 47 N.Y.2d 170, 180-181).

Concur — Nardelli, J. P., Mazzarelli, Andrias and Colabella, JJ.