Tag Archives: Delaware

A Qui Tam Win for Holders, New Federal Common-Law Ruling, JPMorgan Appeals, and a Possible California Amnesty Program

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Our Unclaimed Property Team highlights several recent rulings – both federal and state from across the country – and a new California law that could have broad implications for holders. Qui tam rulings in Delaware and New York A fight for removal from state to federal court A possible California amnesty program Read the full advisory here. [...]Read more

Univar, Chapter Two: Only a Pair of Constitutional Claims Survive Dismissal (For Now)

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Our Unclaimed Property Team breaks down the many individual issues at stake in the continuing epic of Univar’s struggle against Delaware and its use of a third-party auditor, and how the courts are deciding in light of earlier Third Circuit rulings. The procedural due process and equal protection claims survive The other claims were dismissed, but could be revived later The next chapter will be set (again) in chancery court Read the full advisory here. [...]Read more

What Is the Future State of Unclaimed Property?

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Over the past two years, a series of sea-change developments in the unclaimed property compliance arena has impacted corporations in the U.S. As part of this series of articles produced by Duff & Phelps asking what's next, Kendall Houghton considers how investment assets will continue to generate audit disputes and litigation. Read the articles here. [...]Read more

Predicting the Possible “Perfect Storm” of Unclaimed Property Trends in 2018

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Our Unclaimed Property Group looks ahead to 2018’s perfect storm of holder- and state-initiated litigation and more. Litigation – what happened and what’s next Adopting the Revised Uniform Unclaimed Property Act The ABA’s Model Unclaimed Property Act Delaware’s VDA program Read the full advisory here. [...]Read more

Delaware Finalizes Much-Anticipated

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In the wake of litigation, Delaware revamped its Escheats Law in early 2017. Now the state has issued final regulations required by the legislation. Our Unclaimed Property Team takes stock of the changes and the quickly approaching deadline for holders to act. Regulations reflect the same old Delaware audit practices Holders must consider whether to convert an audit to a VDA When exactly is the deadline? Read the full advisory here. [...]Read more

Unclaimed Property ADVISORY: Delaware’s Escheats Law Faces Due Process Challenge

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Our Unclaimed Property Team delves into the Third Circuit decision that gives Plains’s due process claim its day in court and could give holders a leg up on Delaware’s Escheats Law. The district court dismisses on all counts Third Circuit allows due process claim The implications Read the full advisory here. [...]Read more

Unclaimed Property ADVISORY: Delaware Reworks Its Recent Unclaimed Property Overhaul Legislation

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Delaware revised its unclaimed property overhaul legislation, and the Secretary of State issued its final VDA estimation regulations. Our Unclaimed Property Team explains what happened and what’s happening next. Five-month extension for Department of Finance’s regulations Holder-friendly updates to SB 13 New Department of State VDA estimation regulations Read the advisory here. [...]Read more

Unclaimed Property ADVISORY: Sailing the Sea Change of Delaware’s New Escheat Law

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Now that Delaware's rewrite of its escheats laws is enshrined in Delaware law, holders will soon be faced with making some important decisions about audits and the VDA program. Our Unclaimed Property Group takes stock of what it means for holders going forward. Read the full advisory here. [...]Read more

Delaware’s Unclaimed Property Overhaul Legislation Awaits the Governor’s Signature

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Exactly two weeks after introduction, Delaware’s major unclaimed property overhaul bill – SB 13 – passed both the Senate and the House of Delaware’s General Assembly on January 26.  The bill is now on the desk of newly inaugurated Governor Carney and is awaiting signature.  We have previously addressed some of the significant features of SB 13 here.  To summarize, SB 13 represents a complete rewrite of the Delaware Escheats Law in reaction to the Temple-Inland decision and other recent unclaimed property developments.  Although SB 13 is inspired by and based in part on the new 2016 [...]Read more

Unclaimed Property ADVISORY: Delaware Moves to Revamp Its Unclaimed Property Law

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Our Unclaimed Property Group explores legislation introduced in the state Senate that if enacted, would prompt a sea change in Delaware law governing abandoned and unclaimed property.

Read the full advisory here.