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Case of the Day: Lombard-Knight v. Rainstorm Pictures

The case of the day is Lombard-Knight v. Rainstorm Pictures, Inc. (Cal. Ct. App. 2015). Rainstorm was a California movie production company. It entered into two investment agreements with Fortnom & Co. SA, under which Fortnom was required to provide $300 million upon Rainstorm’s delivery to it of performance bonds. It turned out, according to the court, that “Fortnom was never formed and did not exist as a separate legal entity at the time the agreements were executed.” Oops! Both contracts were signed on Fortnom’s behalf by Anthony Lombard-Knight. Both agreements had arbitration clauses, and both contained the following provisions:
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