Backdating documents english law
And this is why defenses to backdating sometimes get hard for me to understand.Sure the accounting rules are arcane and most people don't know them.The construction was delayed, and the buyer claimed that it was entitled to cancel the shipbuilding contract and claim repayment of the instalments.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 risks of backdating (or misdating) documents is multiplied in modern commercial transactions by the practice of getting all the documents signed before completion and then rushing around dating them afterwards. There are rare occasions when it may be permissible or even justified to do so, as this briefing explains.As shipyards face financial difficulty, it is increasingly likely that buyers will be looking to bring shipbuilding contracts to an end and make claims under the refund guarantees.
If someone presents you with a spreadsheet of the last month's stock prices and asks you to pick the date on which you want to pretend that you granted, or were granted, several million options, might that not at least spur further inquiry?
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.
Therefore, the buyer commenced arbitration against the bank.
The “Panama Papers”, published Sunday by a coordinated group of international media outlets, tell stories off offshore tax avoidance and potential official corruption based on thousands of internal documents from Panamanian law firm Mossack Fonseca.
The leaked Mossack Fonseca files show the law firm regularly offered to backdate documents for clients, according to a report by the International Consortium of Investigative Journalists, a not-for-profit that coordinated the expose.
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If your backdated claim is approved, you will be able to receive benefits from a certain date in the past.