Restitution Definition

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GLOSSARY

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What does Restitution mean?

Restitution is concerned with reversing one party’s unfair or unjust benefit at the expense of another party. The purpose of a claim of restitution, therefore, is not to compensate the claimant for a loss but to deprive the defendant of a benefit.

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Sentencing Guidelines for Corporate offenders—Money laundering checklist

Sentencing Guidelines for Corporate offenders—Money laundering checklist This Checklist summarises the Sentencing Council’s guidelines for money laundering offences committed by a corporate (Money Laundering Guidelines). The Money Laundering Guidelines can be accessed here: • Magistrates’ Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the magistrates’ court • Crown Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the Crown Court The Sentencing Council also publishes a number of overarching guidelines, which should be considered in respect of all sentencing exercises. These include: • Totality guideline (Crown Court) • Totality guideline (magistrates’ court) • General guideline—overarching principles (Crown Court) • General guideline—overarching principles (magistrates’ court) • Reduction in sentence for a guilty plea (Crown Court) • Reduction in sentence for a guilty plea (magistrates’ court) For more information, see Practice Note: Sentences imposed following conviction. Among these overarching guidelines, the General guideline: overarching principles (the General guideline) is specifically designed...

Sentencing Guidelines for Corporate offenders—Fraud or VAT offences checklist

Sentencing Guidelines for Corporate offenders—Fraud or VAT offences checklist This Checklist summarises the Sentencing Council’s guidelines for sentencing corporate offences of fraud under the Fraud Act 2006 (FrA 2006), Theft Act 1968 (TA 1968), Value Added Tax Act 1994 (VATA 1994) and Customs and Excise Management Act 1979 (CEMA 1979) in the Crown Court and magistrates’ court. The Fraud Guidelines for corporate offenders can be accessed here: • Magistrates’ Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the magistrates’ court • Crown Court Sentencing Guideline—Corporate offenders: fraud, bribery and money laundering—for use in cases involving corporates being sentenced in the Crown Court The Sentencing Council also publishes a number of overarching guidelines, which should be considered in respect of all sentencing exercises. This includes: • Totality guideline (Crown Court) • Totality guideline (magistrates’ court) • General guideline—overarching principles (Crown Court) • General guideline—overarching principles (magistrates’ court) • Reduction in sentence for a guilty plea (Crown Court) • Reduction in...

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Pension overpayments—beginners’ guide

Pension overpayments—beginners’ guide FORTHCOMING DEVELOPMENT: In the King's Speech of 17 July 2024 on the State Opening of Parliament, 40 legislative proposals were presented, including a new Pension Schemes Bill (not yet published). Among other things, this Bill is set to remove the need for pension scheme trustees to apply to the courts to enforce a determination of the Pensions Ombudsman in relation to the recovery of pension overpayments by granting the Ombudsman powers to those of a competent court which aims to alleviate pressures and cost for courts, schemes, and members and ensuring recovery costs are kept to a minimum. For further information, see Practice Note: Overpayment of pension benefits—Methods of recovering overpayments. This guide is primarily aimed at trainees, newly qualified lawyers and other persons who are new to or unfamiliar with pensions law. THIS PRACTICE NOTE APPLIES TO TRUST-BASED OCCUPATIONAL PENSION SCHEMES Why do pension overpayments occur? Pension overpayments from occupational pension schemes generally arise either as a result of: • incorrect calculations...

Investment and investor protection under the Energy Charter Treaty

Investment and investor protection under the Energy Charter Treaty This Practice Note deals with the substantive standards of protection under the Energy Charter Treaty (ECT). It does not cover the notions of qualifying investor and qualifying investment, denial of benefits or the dispute resolution mechanism under the ECT (including arbitration). For more information on these aspects, see Practice Note: Investment treaty arbitration under the Energy Charter Treaty. The terms investor, investment and Contracting Party as used herein are defined in that Practice Note. Part III of the ECT includes a catalogue of provisions that establish a high standard of protection of foreign investments that occur within the territories of host states that are Contracting Parties to the ECT. The key provisions in Part III of the ECT are Articles 10 and 13. Fair and equitable treatment (FET) and the ECT Article 10(1) of the ECT obliges Contracting Parties to accord fair and equitable treatment (FET) to protected investments. It provides that each Contracting Party shall ‘encourage and create...

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Part 26A restructuring plan for SMEs

Part 26A restructuring plan for SMEs IN THE HIGH COURT OF JUSTICE BUSINESS AND PROPERTY COURTS OF ENGLAND AND WALES COMPANIES LIST (CHD) IN THE MATTER OF [insert name of the Company] AND IN THE MATTER OF THE COMPANIES ACT 2006 BETWEEN [insert name of the Company] and THE PLAN CREDITORS [AND MEMBERS] (as defined herein) RESTRUCTURING PLAN (under Part 26A of the Companies Act 2006) DATED [insert date] RECITALS The Company (A) [Insert name of the Company] is a [private] limited company, incorporated in [England and Wales] with company number [insert company number] and office at [insert address] (the Company) Purpose of the Restructuring Plan (B) The purpose of this Restructuring Plan is to affect a compromise and arrangement between: [(i)] the Company and the Plan Creditors; [and (ii) the Company and the Members], in order to eliminate, reduce or prevent, or mitigate the effect of financial difficulties encountered [or likely to be encountered] by the Company that are affecting, or will...

Part 26A restructuring plan Practice Statement Letter (PSL)

Part 26A restructuring plan Practice Statement Letter (PSL) IMPORTANT NOTICE FROM [insert name of Company] THIS LETTER REQUIRES YOUR IMMEDIATE AND URGENT ATTENTION. IT CONCERNS A RESTRUCTURING PLAN PROPOSED BY [insert name of Company] PURSUANT TO PART 26A OF THE COMPANIES ACT 2006 WHICH MAY AFFECT YOUR LEGAL RIGHTS AND ENTITLEMENTS AND YOU MAY THEREFORE WISH TO TAKE APPROPRIATE LEGAL AND OTHER PROFESSIONAL ADVICE ON ITS CONTENTS. THE PROPOSED RESTRUCTURING PLAN APPLICATION WILL BE CONSIDERED BY THE HIGH COURT OF ENGLAND AND WALES AT A CONVENING HEARING WHICH IS EXPECTED TO TAKE PLACE ON [insert date of convening hearing] IN, [insert location eg London] UNITED KINGDOM. SPECIFIC DETAILS OF THE CONVENING HEARING (INCLUDING CONFIRMATION OF THE TIME) WILL BE PROVIDED TO ALL CREDITORS/MEMBERS (AS DEFINED BELOW) BY A SEPARATE NOTICE IN ADVANCE OF THE CONVENING HEARING. [CREDITORS/MEMBERS WILL ALSO BE ABLE TO ACCESS AND DOWNLOAD THE NOTICE AT THE FOLLOWING WEBSITE: [insert website details].] YOU ARE BEING CONTACTED AS [insert Company name] BELIEVES YOU ARE A...

Dive into our 33 Precedents related to Restitution

What is the common law position where a supplier of a service erroneously undercharges a customer for that service (eg due to miscalculation of the amount of service used at the fault of the supplier)? Is the supplier entitled to back-bill a customer for historic supplies which it has undercharged for, and is the customer obliged to make further payments? Is there any time limit?

What is the common law position where a supplier of a service erroneously undercharges a customer for that service (eg due to miscalculation of the amount of service used at the fault of the supplier)? Is the supplier entitled to back-bill a customer for historic supplies which it has undercharged for, and is the customer obliged to make further payments? Is there any time limit? In answering this question, we have assumed that you are referring to a services agreement between two businesses in an unregulated supply sector. The ability to recover sums under a commercial contract will depend on the terms of the contract relating to calculation of payments, invoicing and dispute resolution. For general information, see Practice Note: Price, payment terms and interest. If the contract introduces a process for agreeing invoices for services and agreeing these invoices as ‘final’ for parts of the work there is likely to be no right to go back to recover errors, regardless of the error. The nature of...

What recourse does a bank have if assets are disposed of in breach of the terms of the finance documents?

What recourse does a bank have if assets are disposed of in breach of the terms of the finance documents? Why is the restriction on asset disposals needed and what clauses should the bank consider in these circumstances? In a secured financing, the bank will be concerned to ensure that the value of its security is not reduced in any way during the term of the facility agreement, ensuring it maximises recoveries in the event it wants to enforce the security. Another key concern is that unless the bank can show sufficient control over any given secured asset, any purported fixed charge over that asset could be recharacterised as a floating charge. Therefore, it is usual for the bank to put restrictions into the facility agreement and related security documents preventing the borrower from selling, transferring or otherwise disposing of any of its assets during the term of the facility agreement without the consent of the bank. For more information, see Practice Note: Undertakings (covenants) —...

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Dispute Resolution weekly highlights—13 February 2025

This week's edition of Dispute Resolution weekly highlights includes: analysis of a number of key DR developments and key judicial decisions including the 179th and 180th Practice Direction updates, our Dispute Resolution Horizon Scanner for February 2025 and the High Court decision in Vauxhall Motors Ltd v Denso Automotive UK Ltd (cross-border disputes); details of our most recently published content; and other information of general interest to dispute resolution practitioners.

Financial Services—other developments (3/2/2025)

A round-up of other developments, which have not been covered in full by the ��Ƶ Financial Services practical guidance team but may nevertheless be of interest.

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