A battle over Delaware’s aggressive program for collecting unclaimed property is raging in federal courts. In the last two months, 23 states have sued in the U.S. Supreme Court, seeking to recover nearly $175 million in uncashed money orders remitted to the First State. And U.S. District Judge Gregory Sleet of the District of Delaware ruled that the program’s treatment of corporations “shocks the conscience.”
But a lesser-known case pending in the Delaware Court of Chancery could end up being the program’s undoing.
