In the News Today – May 8, 2017

Delaware Unclaimed Property Rules Defy Federal Ruling: Delaware’s new unclaimed property rules fail to meet the standards of the August federal court ruling they were drafted to address, writes the Council on State Taxation in a letter to the state’s Department of Finance. The Council argues the proposed rules violate the federal ruling “by failing to use the last known address of the last known property owner to determine which state has a priority claim.” (Law360)

Mandatory Disclosure of Third-Party Litigation Funding On the Horizon?: According to a recent memo from the Skadden law firm, “the worldwide market for third-party litigation financing was estimated to exceed $1 billion.” The growth of litigation funding has also raised concerns, including the requirement of mandatory disclosure of litigation funding. Courts in a number of jurisdictions are increasingly raising questions about third-party litigation funding, and the “time has come for a debate on these issues.” (D&O Diary)