Keane's Unclaimed Property Blog

Litigation (3 articles)

New Lawsuit Brings Delaware’s Audit Enforcement Measures to the Forefront: The Next Temple-Inland?

New Lawsuit Brings Delaware’s Audit Enforcement Measures to the Forefront: The Next Temple-Inland?

Compliance, Litigation, Unclaimed Property Audit

Univar alleges that the unclaimed property audit spearheaded by Kelmar violates a number of its constitutional rights, including substantive and procedural due process rights, the right to equal protection and the right to be free from unreasonable searches and seizures, and that it constitutes a taking of private property without just compensation.

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Verdict Rendered Against Overstock in Qui Tam Litigation Over Unclaimed Gift Card Balances

Verdict Rendered Against Overstock in Qui Tam Litigation Over Unclaimed Gift Card Balances

Gift Card Escheatment, Litigation

The verdict against Overstock likely means that Delaware will further scrutinize companies utilizing similar giftco structures and could possibly subject them to litigation or audit, even forcing some to re-domesticate outside of Delaware to avoid such scrutiny.  Gift card holders should be overly cautious and be prepared to defend their organizational structures to the state.

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