The U.S. Supreme Court building in Washington, D.C. (Photo: Diego M. Radzinschi/ALM) With $150 Million at Stake, SCOTUS Will Hear First Abandoned Property Case in 30 Years
Delaware is challenging the recommendations of a special master over what state gets to claim abandoned MoneyGram funds.
August 17, 2022 at 03:01 PM
6 minute read
What You Need to Know
- The dispute between Delaware and the other states is the justices' first abandoned property case in nearly 30 years.
- Delaware says it has jurisdiction to escheat the checks under common-law rules. Opposing states say they belong to the state of purchase.
- A special master appointed by the Supreme Court has sided with the opposing states.
The U.S. Supreme Court's first unclaimed property case in nearly three decades is unlikely to ignite dinner table debates. But for Delaware, the 30 states opposing it, and members of the financial community, the roughly $150 million at stake push it to the top of their list in terms of importance.
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