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
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
Illinois passed its first budget in two years – and snuck in (a modified version of) the 2016 Revised Uniform Unclaimed Property Act. Our Unclaimed Property Team unearths the Act’s numerous provisions, many of them unfavorable for holders. Eliminating the B2B exemption Other variations from the uniform Act and current Illinois law Potential legal hurdles Read the advisory here. [...]Read more
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
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.