The Delaware Secretary of State announced in late August 2020 that his office was mailing nearly 200 letters to businesses identified as “holders” of unclaimed property. These Delaware-formed companies were deemed likely to be out of compliance in reporting dormant, abandoned or unclaimed property under Delaware law.The 200 holders –many of which are privately held companies– were afforded... Continue Reading

The U.S. District Court for the District of Delaware issued Jury Trial Restart Guidelines today providing direction to litigants “in framing pre-trial discussions that will be required in order to conduct jury trials in a manner that protects health and safety as well as litigants’ rights” during the COVID-19 pandemic. The 8 pages of guidelines cover (1) identifying and assembling the... Continue Reading

Delaware Governor John C. Carney has signed House Bill 334 into law (“Trust Act 2020”), which further improves upon Delaware trust law... Continue Reading

The U.S. District Court for the District of Delaware modified its COVID-19 standing order today. The new order continued all civil and criminal jury selections and jury trials scheduled to begin before September 15, 2020. However, the Court intends to enter Phase 2 of the District’s Re-Opening Guidelines on September 15, 2020, assuming COVID-19 trends remain where they are as of today. Before... Continue Reading

The Delaware Supreme Court recently decided the case of Murfey v. WHC Ventures, LLC, No. 294, 2019 (Del. July 13, 2020), which involved a dispute over whether the plaintiff limited partners were entitled to certain books and records under the partnership agreement in question.  Specifically, plaintiffs sought the Schedule K-1s of the other limited partners in the partnership purportedly for the... Continue Reading

Earlier this month, the Delaware Court of Chancery issued an opinion in Department of Finance v. AT&T, Inc., C.A. No. 2019-0985-JTL (Del. Ch., July 10, 2020). The opinion itself is narrow in scope but its result, and several of its findings regarding Delaware’s administration of its unclaimed property program, should be assessed carefully by holders and their advocates. The opinion may... Continue Reading

The U.S. District Court for the District of Delaware modified its COVID-19 standing order today by continuing all civil and criminal jury selections and jury trials scheduled to begin before August 31, 2020. Jury proceedings affected by the Order will be reset by further order of the assigned judge... Continue Reading

Virtually all companies generate unclaimed property. This type of property includes unclaimed payroll or accounts payable checks, unapplied customer credits, and unclaimed dividends or shares. Under laws that exist in every state, property that is unclaimed by the owner after a defined period of time must be paid to the state of the last known address of the owner or, if that address is unknown,... Continue Reading

The U.S. District Court for the District of Delaware issued Re-Opening Guidelines today, describing a four-phase reopening and providing policies to be followed at each stage... Continue Reading

The U.S. District Court for the District of Delaware modified its COVID-19 standing order today. Although the Court remains open, all jury trials scheduled to begin before June 30, 2020, are continued under the revised order. Jury proceedings affected by the order will be reset by further order of the assigned judge. The Court has provided, however, that individual judicial officers may continue... Continue Reading