Posted on Aug 23, 2016 by JMS Advisory Group |
A second case in the last month was dismissed just days ago by the U.S. District Court in Delaware. This time, in contrast to the Temple-Inland disposition, the judge ruled in favor of the state and its contract audit firm, Kelmar Associates on their respective motions for summary judgment. On its face, it would seem like a victory for the government. However, as Lee Corso says, “not so fast my friend!”. Diane Green-Kelly, who was the chief counsel in the Temple-Inland case, has a very interesting take on this decision, putting it in the proper context relative to other pending litigation in Delaware. The First State’s unclaimed property audit program is back on its heels right now, and is struggling to find its bearings going forward. While we’re sure Delaware will continue its unclaimed property audit program, how it looks in the coming days, weeks, months and years remains to be seen.
Stay tuned to hear more about these developments as they occur. Contact us with any questions you may have about Delaware unclaimed property, audits, or annual compliance with these laws. We are here to help.