News & Analysis as of

Escheat Gift-Cards

Eversheds Sutherland (US) LLP

Unclaimed property — What’s new for gift, payroll, loyalty and stored-value cards?

A wave of new unclaimed property statutes and rules is changing whether and when businesses should escheat gift, payroll, loyalty, and other stored-value cards. Ten states have adopted new statutes or rules in this area over...more

ArentFox Schiff

Overstock.com Conceals Abandoned Gift Card Balances

ArentFox Schiff on

The Delaware Superior Court recently issued a final order against Overstock.com for violating Delaware’s Abandoned and Unclaimed Property Law and False Claims and Reporting Act by failing to report and remit nearly $3 million...more

Morris James LLP

Delaware Superior Court Explains When Expert Opinion Is Admissible

Morris James LLP on

The State of Delaware v. Card Complaint LLC, C.A. N13C-06-289 PRW CCLD (August 29, 2018)- This is an excellent summary of the law governing the admissibility of an expert opinion....more

Alston & Bird

Third Circuit Continues the Marathon Battle Over Delaware’s Escheat Law

Alston & Bird on

On December 4, 2017, the Third Circuit Court of Appeals vacated the Delaware federal district court’s dismissal of the plaintiffs’ claims in Marathon Petroleum Corp., et al. v. Cook. The court held that the plaintiffs did in...more

Alston & Bird

Illinois Stealthily Enacts Version of RUUPA as Part of Budget Bill

Alston & Bird on

This week, the Illinois General Assembly enacted budget legislation (SB 9) to much fanfare. Although most news stories will likely focus on the fact that the state has a budget for the first time in several years, the real...more

McDermott Will & Emery

Illinois UP Bill Would Retroactively Require Reporting of Gift Cards and B2B Transactions

McDermott Will & Emery on

Earlier this year, an unclaimed property rewrite bill (HB 2603) was introduced in the Illinois House that would require holders to retroactively report a number of property types currently exempt. The provision would require...more

McDermott Will & Emery

Unclaimed Property Litigation Update – Spring 2016

McDermott Will & Emery on

Litigation over unclaimed property rules and obligations continues to accelerate. The first quarter of 2016 brought developments in several cases, including a much-watched contest over merchandise credits and a new battle...more

Eversheds Sutherland (US) LLP

Store Credits Not Subject to Unclaimed Property, Says California Court

In a decision with potentially broad implications, a California Superior Court has held that merchandise credits not redeemable for cash are not subject to California's Unclaimed Property Law (UPL). The court also held that...more

Eversheds Sutherland (US) LLP

Debate Over Unclaimed Property Continues Before the Uniform Law Commission Drafting Committee

Proposed revisions to the Uniform Unclaimed Property Act were under debate this past week in Washington, DC as the Uniform Law Commission (ULC or Commission) Committee to Revise the Uniform Unclaimed Property Act (Drafting...more

McNees Wallace & Nurick LLC

Unclaimed Property Reporting - Are You In Compliance?

Most states require the holder of “abandoned” or “unclaimed” property to report (and remit) such property after the expiration of a certain number of years (the “holding period”). These “escheat” laws generally apply to any...more

10 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide