Prevent backdating


07-Apr-2020 13:06

prevent backdating-7

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A claim for Pennsylvania Unemployment Compensation (UC) benefits can be backdated up to six weeks but the Pennsylvania Code (Pa. On July 9, 2013, the Commonwealth Court issued an opinion clarifying the backdating process.

Code) places two different burdens of proof for the first two weeks of backdating from the remaining four weeks of backdating. See had several family members who were gravely ill at the time he should have applied for UC benefits.

The parties’ intent for the transaction to have retroactive effect must be clear.

Merely stating a retroactive effective date in the main agreement may not do the trick.

Due to this ambiguity in the contract documents, the trial court was permitted to look at the evidence of the parties’ intent outside of the documents, and it found that the FDIC didn’t acquire an interest in the loan until June 2009, regardless of the stated effective date in the main agreement.

But the language of the FDIC/FH Partners agreements further undermined FH Partners’ arguments because the documents (1) stated that they couldn’t be amended or waived except in a writing signed by the parties, (2) didn’t anticipate that the FDIC could modify what it was conveying to FH Partners after closing, (3) conveyed the FDIC’s interest “as of the Loan Sale Closing Date,” (4) transferred the FDIC’s interest in the loan “as is,” (5) provided that the FDIC would “have no obligation to secure or obtain any missing intervening assignment or any assignment to [the FDIC] that is not contained in the Loan File,” (6) provided a process by which FH Partners could require the FDIC to repurchase a loan if it was determined that the FDIC didn’t own it as of the closing, and (7) transferred the FDIC’s rights “at the time of closing.” The appellate court stated, “We necessarily conclude that the FDIC/FH Loan Sale Documents unambiguously anticipated that the FDIC might very well be conveying to FH Partners less than perfect, and even non-existent, title to Loan A and Loan B.

FH Partners argued on appeal that, although the FDIC didn’t own the loan on December 16, 2008, the FDIC’s backdated transaction with Weatherford remedied the problem retroactively.



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