Unclaimed Property – Companies can lose track of their assets as well as individuals

Unclaimed Property – Companies can lose track of their assets as well as individuals

We can only imagine that officials at Illinois based Tenneco Inc .were ecstatic this week as Illinois state treasurer handed over a $8.1 million cheque which represented the largest asset returned since the State implemented their unclaimed property program.

The $8.1 million represents 45 different properties that were transferred into the unclaimed property program on behalf of the Pullman Company. Pullman was purchased by Tenneco in 1996.

State Treasurer Rutherford  noted that it was  good news for the Illinois economy, as well as good news for Tenneco.

Like most States, Illinois actively encourages all citizens, companies and not-for-profits to check to check the online database that lists all unclaimed property to ensure that they have not been separated from such assets.  

Nice!
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