A group of people wearing formal wear are standing, facing outward.
The people are standing
Both examples include people and standing. The first example simply describes what the people look like and how they are standing.
exists e2 e3 e1 s1 x1 x2 x3 x4 x5.(for(e2,e3) & Theme(e3,x5) & Actor(e3,x1) & v_face(e3) & n_outward(x5) & Actor(e2,x1) & v_stand(e2) & of(x1,x2) & Theme(e1,x4) & Actor(e1,x3) & v_wear(e1) & n_wear(x4) & a_formal(s1) & Theme(s1,x4) & (x2 = x3) & n_people(x2) & n_group(x1))
exists e1 x1.(n_people(x1) & Actor(e1,x1) & v_stand(e1))