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State and Local Government › Unclaimed Property › Appeals

Eversheds Sutherland (US) LLP

Unclaimed Property Exam Resurrected in Michigan by Zombie Theory of the Statute of Limitations

Eversheds Sutherland (US) LLP on

The Michigan Court of Appeals has resurrected the Michigan Treasurer’s efforts to enforce an unclaimed property examination assessment going back nearly 20 years by holding that the state’s issuance of an exam determination...more

Eversheds Sutherland (US) LLP

Unclaimed property: Michigan Supreme Court takes steps to curtail endless examinations

Eversheds Sutherland (US) LLP on

In litigation challenging unclaimed property examination findings, the Michigan Supreme Court took a first step towards curtailing the seemingly never-ending examination process, but left open an opportunity for the State to...more

McDermott Will & Schulte

Meaningful Statute of Limitations for Unclaimed Property Audits and Enforcement Actions? Michigan Court of Appeals Says Yes!

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On January 19, 2023, the Michigan Court of Appeals affirmed two 2022 trial court orders, holding that initiating an unclaimed property audit does not toll (or freeze) the running of the statute of limitations (time-bar) for...more

Herbert Smith Freehills Kramer

Under Recent New York Case, You May Be Liable for Interest on Unclaimed Property

Herbert Smith Freehills Kramer on

Banks, insurers and other financial services companies, as well as other companies holding unclaimed property, are automatically liable for interest that accrues on unclaimed property held by them in New York, without having...more

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