Why Conflict Is Brewing Over Del. Unclaimed Property Law

Law360 (January 23, 2020, 5:27 PM EST) -- No one may be looking forward to new beginnings in 2020 more than the state of Delaware's Department of Finance. Its highly lucrative unclaimed property program has been the subject of substantial criticism for several years, beginning with the U.S. District Court for the District of Delaware's stinging rebuke of the state's aggressive escheat enforcement practices as "a game of 'gotcha' that shocks the conscience," in Temple–Inland Inc. v. Cook.[1]

In response, Delaware's General Assembly passed legislation in early 2017 to overhaul the Delaware Unclaimed Property Law. The amendments were meant to promote predictability, fairness and efficiency by, among other things,...

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