N.Y. Debtor & Creditor Law § 32: Effect of concealment

§ 32. Effect of concealment. Any secured creditor who with intent to

evade the provisions of this article fails to disclose the existence of

the security shall not be entitled to receive or retain dividends out of

the general assets, unless he thereafter releases or surrenders to the

liquidator the security which he has failed to disclose, or unless he

procures such release or surrender if the security is in the possession

of an indorser, surety, or other person secondarily liable for the

insolvent debtor.