Well, yes, I was being a weeeee bit ironic, Simmo!
You pose a very, very difficult question (and I'm apologising sincerely to Kathy for our hijacking of her seals thread, although it does keep it going!). How could we, for example, compensate the people whose property was seized by the Nazis in WWII? Millions of Jewish homes, business premises, their household and personal goods, and their bank accounts, were seized. Given that in many cases, their children were also murdered, there was no-one left to have inherited the properties in the usual manner. So, while the Reich got richer than its wildest dreams with plunder, who should it rightfully return if not the actual physical goods to, then its monetary worth? And would it be its worth at the time, or its worth now?
Thinking about the various genocides (so many, one could weep) - how to compensate for the loss of a working husband or son, or for the loss of one's home or farm? WHO to compensate? The mother, the wife, the children - considering that in, for example, both Serb and Croat cases the families often all lived together?
Very, very difficult to say who should get what, and when. Is the Second World War too far away now for compensation? No, not according to the Chinese women who were captured and multiply-raped as sex slaves by the Japanese during the earlier Sino-Japanese war. Compensation for everything has to then be considered: for mutilation (the loss of one's eyes, lips, hands or legs in the Rwandan atrocities); for castration; for rape; for murder; the loss of a home, a livelihood, one's lands, one's animals, one's farm implements... the list is staggering, and endless.
I don't know, simmo. A best guess is right away, as soon as possible, allowing for the money to be available. However, we all know what bureacracy's like, and how many YEARS it would take to investigate every claim. Now, in Ireland and Scotland, there are the tragic histories of clearances and forced exiles. The English who took over those lands were often given them as gifts for aggressive loyalty to the Monarch. Should the Queen compensate for her ancestors making free with what was not in their gift to appropriate and donate? Interesting stuff. No easy blanket answer, I fear!