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Michael Houghton Quoted in BNA Weekly State Tax Report’s 2016 Legislative Preview on Unclaimed Property in Delaware

Morris Nichols partner Michael Houghton contributed comments to the BNA Weekly State Tax Report article entitled “Unclaimed Property, New Revenue, in Focus in Delaware: Legislative Preview.”  He noted that unclaimed property is the third-largest revenue source for Delaware and commented that some of the state’s unclaimed property laws are being challenged in court.

Mike has advised numerous entities on unclaimed property issues for 25 years and told BNA, “I can’t think of a time where there has been as much active litigation on unclaimed property pending before Delaware courts.”  Mike referenced litigation involving unclaimed property issues pending before Delaware courts, stating “several of these cases will likely result in some clarification of the law one way or another, which will give guidance to everybody involved in the unclaimed property area.”