Disgorgement definition

Disgorgement means an act of giving up profits, as a result of insider dealing obtained in accordance with an order of the court issued as specified in section one hundred and forty-one;

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Disgorgement means “[t]he act of giving up something (such as profits illegally obtained) on demand or by legal compulsion.” Black’s Law Dictionary 501 (8th ed. 2004).

Disgorgement means the act of giving up something (such as money wrongfully obtained) on demand or by legal compulsion.”

Examples of Disgorgement in a sentence

• By the Kenesis Decision, the Bankruptcy Court granted, in part, the Debtors' Cross-Motion and the Kenesis Disgorgement Motion by ordering Kenesis to disgorge all fees related to services performed after the Petition Date.

• On December 8, 2005, certain insurers filed a Motion Seeking Disgorgement of Fees by Kenesis and Authority to Commence an Avoidance Action against Kenesis (the "Kenesis Disgorgement Motion") with the Bankruptcy Court.

• In response, certain insurers filed a Cross-Motion For Disgorgement of Fees (the "Cross-Motion"), which was contained in the certain insurers' objection to the Withdrawal Motion.

• A hearing on the Kenesis Disgorgement Motion and the Debtors' Cross-Motion was held on February 14, 2006 at which the Bankruptcy Court rendered its decision (the "Kenesis Decision").

• On February 6, 2006, the United States Trustee filed a separate Motion For Disgorgement of Fees by Kenesis and on February 8, 2006, the Debtors filed a Cross-Motion with respect to the Kenesis Disgorgement Motion.

• The Bankruptcy Court held a hearing on the Cross-Motion on February 6, 2006 and issued an oral decision granting the Cross-Motion on February 7, 2006 (the "GHR Disgorgement Decision").

• The Bankruptcy Court denied the Kenesis Disgorgement Motion to the extent that it sought disgorgement of fees for services rendered pre-Petition Date and denied the certain insurers' derivative standing to commence an avoidance action against Kenesis.

• GHR's request for a stay of the Disgorgement Order pending appeal was denied by the Bankruptcy Court by Order, dated April 27, 2006.

• Accordingly, on March 27, 2006, the Bankruptcy Court entered an Order (the "Disgorgement Order") compelling GHR to disgorge all fees and expenses paid to it in connection with GHR's First through Sixth Fee Applications, such amounts totaling $9,662,486.71 and denying GHR's request for $3,312,151.53 in connection with its Seventh and Eighth Fee Applications.

• On February 27, 2006, the Bankruptcy Court stated that it would grant the Motion of United States Trustee for an Order Compelling Disgorgement of Funds Received by Gilbert Heintz & Randolph based on the identical reasoning contained ▇▇ ▇▇▇ ▇▇▇ ▇▇▇gor▇▇▇▇▇▇ ▇ecision.

More Definitions of Disgorgement

Disgorgement means an act of giving up profits, as a result of insider dealing obtained in accordance with an order of

Disgorgement as a means of compensating

Disgorgement. REVIVAL OF OBLIGATIONS. In the event that any proceeds of Collateral paid or distributed to or realized by the Bank, or any other payment made to Bank pursuant to the terms hereof, is required to be disgorged, returned, repaid, turned over, or refunded to the Borrowers or to any other Person, the Obligations shall be reinstated, revived, or restored by the amount that is required to be disgorged, returned, repaid, turned over, or refunded, the same as if such payment, distribution, or realization had never been made. The Obligations, as reinstated, revived, or restored, shall continue to be secured by the Collateral.