As with most other aspects of unclaimed property law, there is no such thing as uniformity. Recent legislation in Delaware, Illinois, Massachusetts, South Carolina, and Wisconsin continues to reflect the opposing state viewpoints on the use of third-party contingency fee auditors.
Unclaimed Property Audit (45 articles)
In our 65+ years of business we found that many companies operate under factually inaccurate assumptions. These unclaimed property myths or misconceptions cover everything from why the company has not been reporting, to why they report in a certain manner. Here are some of the most interesting and most concerning unclaimed property myths that Keane has heard.
Keane has received notification from the Delaware Secretary of State’s office that in 2 weeks it will be mailing notices to holders whom it believes to be non-compliant with Delaware escheat law. Holders will have 60 days from mail date to enroll in the SOS VDA program or risk referral to State Escheator for examination. Below is the full text of the notification.
Almost a year after a U.S. District Court dismissed a case brought by Plains All American Pipeline LLC against Delaware for its use of a contingency fee auditor (Kelmar Associates), a U.S. Court of Appeals held that Plains’ procedural due process claim was ripe for review and remanded the case to federal district court. Here’s the latest on this litigation.