Delaware's Unclaimed Property Program and It's Impact on Delaware's Reputation in the National Business Community
Wilmington, DE (May 20, 2014) – Michael Houghton, a Morris Nichols Commercial Law Counseling Group partner and member of the firm’s Executive Committee, was recently quoted in the News Journal article titled, “State Clashes Over Money with Businesses it Courts.” The article discussed Delaware’s abandoned property program and perception of how the program is being administered. “Companies may not be correct in their perception, but perception is very much reality in the corporate law business Delaware relies on so heavily,” stated Houghton.
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For more than 22 years, Mike has also advised numerous entities, including Fortune 500 companies, on unclaimed property issues. He is Co-Chair of the ULC Drafting Committee to Revise the Uniform Unclaimed Property Act, legislation which forms the basis for the law of unclaimed property for over 40 states. Most recently he co-authored the revised BNA Corporate Practice Series Portfolio: Unclaimed Property.