Tag: Unclaimed Property

Vice Chancellor Leo Strine Rules from the Bench Against Staples, Permits Delaware to File Its Supplemental Counterclaim

Following a 20-minute oral argument the afternoon of Tuesday June 7, 2011, Vice Chancellor Leo Strine of the Delaware Court of Chancery issued a bench ruling granting the State of Delaware's motion for leave to file a supplemental counterclaim in the ongoing litigation over the State's unclaimed property audit of Staples... Continue Reading

Delaware Submits Reply Brief in Staples Chancery Court Litigation; Court Now Reviewing Submissions

On April 26, 2011, Delaware submitted its reply brief in support of its motion to file a supplemental counterclaim against Staples in the Court of Chancery.  Delaware asserts that its supplemental counterclaim is not delayed, that the supplemental counterclaim relates to the same subject matter as its original counterclaim, and that (contrary to Staples' statements to the Court) the discovery... Continue Reading

Delaware Seeks to File New Counterclaim Against Staples in Chancery Litigation

On April 6, 2011, Delaware filed a motion for leave to file a supplemental verified counterclaim against Staples in the Delaware Court of Chancery (C.A. 5447-VCS). The supplemental counterclaim seeks an order from Vice Chancellor Strine that would require Staples, in the context of Delaware’s current active unclaimed property audit of the company, to comply fully with the State’s... Continue Reading

Delaware Makes Significant Changes to Its Unclaimed Property Statute

Michael Houghton, Morris Nichols banking, regulatory and Commercial Law Counseling Group partner and Best Lawyers 2009 Banking Lawyer of the Year, and Commercial Law Counseling Group associate Brenda Mayrack, authored Delaware Makes Significant Changes to Its Unclaimed Property Statute, published in the July 28, 2010 issue (Vol. 25, No. 29) of BNA’s Corporate Counsel Weekly. .. Continue Reading

‘McKesson’ Part II – State’s Response Offers Insight, Guidance To Holders Facing Audit for Inventory and Other Property Types

Morris Nichols banking, regulatory and commercial law counseling partner and Best Lawyers 2009 Banking Lawyer of the Year Michael Houghton, and Commercial Law Counseling Group associate Brenda Mayrack, authored ‘McKesson’ Part II – State’s Response Offers Insight, Guidance To Holders Facing Audit for Inventory and Other Property Types, published in the December 30, 2009 issue (Vol. 24, No.... Continue Reading

McKesson Corporation Lawsuit Challenges Delaware’s Assessment of Unclaimed Property Liability For Inventory Mismatches

Morris Nichols banking, regulatory and commercial law counseling partner and Best Lawyers 2009 Banking Lawyer of the Year Michael Houghton, and Commercial Law Counseling Group associate Brenda Mayrack, authored McKesson Corporation Lawsuit Challenges Delaware’s Assessment of Unclaimed Property Liability For Inventory Mismatches published in the November 4, 2009 issue (Vol. 24, No. 42) of BNA’s... Continue Reading

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