News & Analysis as of

Due Process Escheat

BakerHostetler

[Podcast] What is Unclaimed Property/Escheat?

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What in the world is unclaimed property and escheat? And why are tax people dealing with it? Matt Hunsaker gives a basic high-level overview of the world of unclaimed property....more

Eversheds Sutherland (US) LLP

Top five unclaimed property trends for 2020

Unclaimed property audits and compliance issues will continue to be a challenge for companies in a wide range of industries. States view escheat as an important source of revenue, and contingent fee auditors will do their...more

Alston & Bird

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

Alston & Bird on

The continuing epic of Univar’s struggle against Delaware and its use of a third-party auditor continues in district court, only to continue on in state court, again. Our Unclaimed Property Team breaks down the many...more

Eversheds Sutherland (US) LLP

Retroactive application of unclaimed property law for life insurance deemed unconstitutional in Florida

Legislation requiring the life insurance industry to conduct searches of the Social Security Administration’s Death Master File (DMF) and set the trigger for the escheatment dormancy period at the date of an insured’s death...more

Alston & Bird

Delaware’s Escheats Law Faces Due Process Challenge

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In 2015, following Delaware’s commencement of an unclaimed property audit of Plains All American Pipeline, that holder initiated a lawsuit in the U.S. District Court for the District of Delaware seeking declaratory judgment...more

Pillsbury - Gravel2Gavel Construction & Real...

Third Circuit Breathes Life Into Procedural Due Process Claims In Pipeline’s Case Against Delaware’s State Escheator

In the case of Plains All American Pipeline L.P. v. Cook, et al., decided on August 9, the U.S. Court of Appeals for the Third Circuit largely affirmed the dismissal of Plains All American Pipeline L.P.’s (Plains) complaint...more

Troutman Pepper

Temple-Inland Decision Leads to Proposed Delaware Escheat Reform Legislation: Tax Update Volume 2017, Issue 2

Troutman Pepper on

The proposed reforms are a welcome change, specifically as they relate to lookback periods, electronic filing and limited compliance reviews. As a result of what some might view as a scathing decision by the U.S....more

McDermott Will & Emery

Settlement Reached in Temple-Inland; Delaware Internally Reviewing Unclaimed Property Audit Practices

McDermott Will & Emery on

The court case challenging Delaware’s unclaimed property audit methodologies has settled following an opinion brutalizing Delaware’s position. This settlement leaves the US District Court for the District of Delaware...more

Alston & Bird

Settlement in Temple-Inland After District Court Declared Delaware’s Estimation Methodology Unconstitutional

Alston & Bird on

On August 5, 2016, plaintiff Temple-Inland Inc. and defendants Delaware Secretary of Finance, State Escheator and Abandoned Property Audit Manager filed a joint motion to dismiss with prejudice the...more

McDermott Will & Emery

Breaking News: Federal Court Finds Delaware’s Unclaimed Property Enforcement “Shocks the Conscience”

On June 28, 2016, the much-anticipated memorandum opinion of the US District Court for the District of Delaware in Temple-Inland, Inc. v. Cook et al., No. 14-654-GMS was released on the parties’ cross-motions for summary...more

McDermott Will & Emery

Unclaimed Property Hunger Games: States Seek Supreme Court Review in ‘Official Check’ Dispute

McDermott Will & Emery on

Background - As detailed in our blog last month, MoneyGram Payment Systems, Inc. (MoneyGram) is stuck in between a rock and a hard place as states continue to duel with Delaware over the proper classification of (and...more

Alston & Bird

Unclaimed Property Advisory: U.S. Supreme Court Denies Petitioners’ Writ of Certiorari in Taylor v. Yee

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On February 29, 2016, the U.S. Supreme Court denied the writ of certiorari to review the judgment of the U.S. Court of Appeals for the Ninth Circuit in Taylor v. Yee, 780 F.3d 928 (9th Cir. 2015). The case involves a 13-year...more

McDermott Will & Emery

Straight Outta Delaware: JLI Invest S.A. et al. v. Cook et al.

McDermott Will & Emery on

As soon as we start to think that Delaware’s unclaimed property practices and administration couldn’t possibly get any more egregious, another lawsuit like JLI Invest S.A. et al. v. Cook et al., Case No. 11274 surfaces. The...more

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