Restitution following fraud

摘要

In Armstrong DLW GmbH v Winnington Networks Ltd [2012] EWHC 10 (Ch) a carbon trader was held liable for knowing receipt of trust property or in restitution after buying allowances knowing that the vendor might not have title to or authority to sell them.The proceedings involve the transfer of 21,000 European carbon emission allowances to the defendant company, Winnington Networks, supposedly from a company in Dubai. Allowances are central to the European Emissions Trading Scheme under Directive 2003/87/EC. Under the emissions trading scheme, operators of relevant installations in Europe must monitor C02 emissions and surrender a sufficient number of allowances to meet the amount of carbon emitted.