Disgorgement (law)
From Wikipedia, the free encyclopedia
This article is about the legal term. For other uses, see Disgorge (disambiguation).
 |
It has been suggested that this article or section be merged into Asset forfeiture. (Discuss) Proposed since February 2011. |
Disgorgement is the forced giving up of profits[1] obtained by illegal or unethical acts. A court may order wrongdoers to pay back illegal profits, with interest, to prevent unjust enrichment. Disgorgement is a remedy and not a punishment.
Black's Law Dictionary defines disgorgement as "the act of giving up something (such as profits illegally obtained) on demand or by legal compulsion".
In re Gleeson's Will (124 N.E.2d 624 (Ill. App. 1955)), disgorgement was used as a remedy when the trustee remained as a holdover on the testator's land and acquired a profit.
[edit] References
- ^ "ABB pay $58.3 million in disgorgement". ABB press release. http://www.abb.com/cawp/seitp202/b7aa479846d0fe19c12577ae0017bfa0.aspx. Retrieved 2010-10-05.
[edit] See also
 |
This legal term article is a stub. You can help Wikipedia by expanding it. |
