On August 16th, the Delaware Federal District Court dismissed the lawsuit brought by Plains All American Pipeline against certain Delaware Department of Finance employees and Delaware’s contracted auditor, Kelmar Associates in regards to an unclaimed property audit. The court ruled that Plains did not have standing to sue Kelmar and that the allegations against the state officials were not ripe for judicial review.
On August 5th, it was announced that Temple Inland and officials of the Delaware Department of Finance and the State Escheator’s Office in their official capacities had filed a joint motion to dismiss the case based on a recent voluntary settlement between the parties. How will this settlement impact Delaware’s unclaimed property audit practices?
The Pennsylvania unclaimed property reporting deadline is fast approaching – with newly reduced dormancy periods in effect. Keane’s team of unclaimed property experts provide an overview of the escheat reporting process in the Keystone state, and what can be done if you’re unable to meet the April 15 deadline.
Surprise changes were made to the Pennsylvania Unclaimed Property Act as House Bill 1605 was amended, passed by both the House and Senate, and signed into law on July 13, 2016. The bill not only adds due diligence requirements, but also repeals the statutory requirements addressing IRAs that were enacted in 2014 and replaces them with novel provisions not used in any other state.
Office Depot and NACCS allege that Delaware’s initial document request (“IDR”) was overly broad and included irrelevant information; particularly information pertaining to purported unclaimed gift cards that may be due or was reported to states other than Delaware.