Wednesday, January 3, 2018

Delaware Names New State Escheator

According to release from the Delaware Department of Finance, Brenda R. Mayrack has been named the Delaware State Escheator.  Escheator Mayrack is well known to the unclaimed property professionals’ community, having served as both an auditor as well as attorney in private practice representing holders.  She takes over Delaware’s Office of Unclaimed Property at a crucial time.  Delaware is in the midst of several high profile unclaimed property matters including, most recently, a decision by the United States Court of Appeals in Marathon Petroleum Corp. v. Cook, holding that private parties may raise the Texas v. New Jersey priority rules established by the Supreme Court to challenge a state’s authority to escheat property, and allowing for the possibility of broader challenges to Delaware’s audit practices.