Backdating contract dating advice for professional women


This is backdating that memorializes, something the United States Court of Appeals for the Seventh Circuit has recognized as a legitimate practice.For example, if parties clearly reach an agreement on Dec.The bank also claimed that the buyer had assigned its rights under the shipbuilding contract to the lender and, as such, it was the lender, not the buyer, who was entitled to commence arbitration proceedings. Arbitration awards were issued in the favour of the buyer and the Court dismissed the bank’s challenge to the arbitration awards.Meanwhile, the bank had commenced court proceedings in China as to whether the backdating of the shipbuilding contract constituted fraud, and so whether the refund guarantees had any binding force.The proceedings in China continued, despite the bank having been ordered by the English Court, on an interim basis, not to pursue proceedings in China.Holding court In the two actions before the Court, the buyer and the lender sought to obtain anti-suit injunctions restraining the Chinese proceedings.

The true date of execution, as stated in the second addendum, was August 15, 2007.Arbitration commenced in London, whereby the shipbuilder disputed the buyer’s right to cancel the shipbuilding contract, did not repay the instalments and, instead, claimed that it was entitled to damages.The buyer claimed under the refund guarantees, but these claims were declined by the bank pending the outcome of the dispute between the builder and the buyer.Not surprisingly, the Court granted the anti-suit injunction sought by the buyer.However, because the lender was not a party to the arbitration agreement, under the shipbuilding contract, the court was not persuaded that it was appropriate to grant the anti-suit injunction sought, restraining the bank from pursuing the Chinese proceedings against the lender.Therefore, the buyer commenced arbitration against the bank.

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