In the current economic climate – increased acquisitions and corporate restructuring – questions often arise about what is, and is not, eliminated through a bankruptcy. The issue is more important than ever with UP audits on the rise, due in part to an increase in the number of third-party contingent-fee audit firms. As always, unclaimed property auditors are focused on finding the “skeletons in the closet,” and are now becoming increasingly focused a company’s history to locate “forgotten” exposure. Many companies believe that if they, or an affiliate or acquisition, have been through a bankruptcy, no unclaimed property liability remains. Unfortunately, that’s not always true.
Upon course completion, you will be able to:
- Identify the state’s rights regarding potential UP held by an entity that has filed for bankruptcy
- Determine actions required by the state during a bankruptcy to secure its claims
- Define what companies need to know about bankruptcy and UP
- Determine what to do if your company is filing for bankruptcy, is emerging from bankruptcy, or if your company is NOT filing for bankruptcy – but is potentially acquiring someone who has
Program Level: Intermediate
Field of Study: Business Law, Auditing, Taxes
This is one part of a 4-part webinar series. If you want to register for just this part, please click the Register button to the right. If you’d like to register for all 4 parts together, please click here.