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Reverberations of the Temple-Inland Case

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On June 28th Temple-Inland scored an historic victory for unclaimed property holders everywhere, as its Motion for Summary Judgment was ruled upon favorably by the U.S. District Court in Delaware. Just a few weeks later however, the parties settled their differences and the case was dismissed. Understandably, there have been no public disclosures related to that settlement and the terms have been kept secret. As a result there has been a shroud of uncertainty cast over the unclaimed property world. That is until now…

This article is a clear indication that Delaware has started to scramble. Efforts are now clearly underway in the state to prepare for an impending budget crunch, brought on by the changes which are no doubt forthcoming to the administration of the state’s unclaimed property program. Next year, Delaware will have a new Governor, likely some new faces in its legislature, and a revamped escheat administration. Stay tuned for more details.

Contact us with questions or concerns you may have about these Delaware escheat developments.