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Showing posts from November, 2020

Delaware State Court Enforces Unclaimed Property Subpoena - Case Headed Back to Federal Court

The unclaimed property saga arising out of the State of Delaware’s unclaimed property audit of Univar, Inc. took another turn recently when the Delaware Court of Chancery issued a ruling enforcing a subpoena issued by the state. The case is now (probably) headed back to federal court for a consideration of Univar’s constitutional claims. The story started nearly five years ago, in December 2015, when Univar received notice that it was to be the subject of an unclaimed property audit conducted by Kelmar Associates. After some procedural wrangling back and forth among the state, the holder, and Kelmar, an initial document request was issued in September 2016 seeking four categories of documents: (1) tax returns and related information; (2) apportionment schedules; (3) information relating to certain shared-service and disbursement activity; and (4) information concerning prior unclaimed property audits and voluntary disclosure proceedings. In October 2018, after th