The State of Delaware’s unclaimed property program faces continued legal challenges from the holder community.  In December 2019 alone, four new holders filed complaints in the U.S. District Court for the District of Delaware raising a series of constitutional challenges to Delaware’s conduct of its unclaimed property audits.  These new complaints in many ways mirror the lawsuit filed... Continue Reading

The U.S. District Court for the District of Delaware continues to consider the best allocation of judicial resources now that it has a full complement of four District Court Judges and four Magistrate Judges, following the swearing in of new U.S. Magistrate Judge Jennifer L. Hall... Continue Reading

Delaware Governor John C. Carney has signed House Bill 72 into law (“Trust Act 2019”).  The legislation, signed on June 19, 2019, further improves and modernizes Delaware trust law, including the following highlights: adding Section 3343 to Title 12 of the Delaware Code, which empowers a fiduciary who has the power to appoint successor trustees to appoint multiple trustees and to allocate... Continue Reading

On Monday, May 20th, the Delaware Secretary of State issued a notice announcing that the State will distribute letters this week inviting companies to enter the Abandoned or Unclaimed Property Voluntary Disclosure Agreement Program (“VDA Program”).  This is a continuation of the State’s heightened enforcement initiative that we highlighted earlier this year.  We believe this round of... Continue Reading

On April 4, 2019, the Corporation Law Section of the Delaware State Bar Association approved amendments to the Delaware Limited Liability Company Act, 6 Del. C. §§ 18-101 et seq. (the “DLLCA”), the Delaware Revised Uniform Limited Partnership Act, 6 Del. C. §§ 17-101 et seq. (the “DRULPA”), and the Delaware Revised Uniform Partnership Act, 6 Del. C. §§... Continue Reading

For those who thought the State of Delaware had gone out of the unclaimed property business—think again. After a 2017 overhaul of Delaware’s unclaimed property laws and an increased emphasis on voluntary compliance with those laws, Delaware is sending out dozens of “invitations” to companies to enter its Abandoned or Unclaimed Property Voluntary Disclosure Agreement Program (the “VDA... Continue Reading

On February 28, 2019, the United States District Court for the District of Delaware announced the selection of Jennifer L. Hall to fill a newly created fourth Magistrate Judge position on the Court.  When Ms. Hall joins the bench, the District of Delaware will have four magistrate judges to serve alongside the Court’s four district court judges... Continue Reading

On January 16, 2019, the U.S. District Court for the District of Delaware released a Notice regarding Court operations during the current lapse in appropriations. Although the Administrative Office of the United States Courts has advised that funding for Fiscal Year 2019 will be exhausted on Friday, January 25, the Court will “remain open and operational without disruption” after that date,... Continue Reading

On October 1, 2018, the U.S. District Court for the District of Delaware provided an update on case assignments and magistrate judges. The announcement was issued a month and a half after the Court welcomed new Judges Colm F. Connolly and Maryellen Noreika and eliminated the vacant judgeship docket... Continue Reading

Recently enacted legislation (“Trust Act 2018”) provides settlors, beneficiaries, fiduciaries and nonfiduciary powerholders with an even greater ability to accomplish their objectives using Delaware trusts... Continue Reading