Employment Issues on a Transfer of Business – A Global Overview, a new publication from Mayer Brown, addresses the various HR issues that are likely to arise when one business is acquired by another business. The 198-page guide covers 40 different jurisdictions and answers questions such as:
- Is there any legislation providing for the automatic “transfer” of employees from the seller to buyer in an asset sale situation?
- What are the seller’s legal obligations on “transferring” its employees?
- What documentation is required to effect the transfer of employees from the seller to buyer?
- Are there any particular types of employees whose employment cannot be transferred by the seller?
- What steps can a seller take to reduce its obligations to an employee who “transfers” to the buyer?
- Does the seller’s employee have a right not to be transferred to the buyer?
Commenting on the launch of this publication, Duncan Abate, Firm Practice Leader of Employment & Benefits at Mayer Brown, said: "Increasing globalisation of businesses has resulted in an increase in deals involving employees in multiple jurisdictions. With assistance from lawyers in the Mayer Brown family, as well as lawyers from leading law firms in each of the jurisdictions, we have produced this publication to address an issue that arises in almost every transfer of a business - what to do with the employees employed in that business. In particular, where the intention is to continue the business as a going concern, how do we “transfer” the employees to the buyer?"
Hong Tran, a partner of Mayer Brown echoed: "In addition to answering frequently asked questions on each jurisdiction, this guide also comes with a sample buyer's checklist. We truly hope it will serve as a reference guide for HR professionals and business managers to answer common questions that may keep them awake at night.”
For more information, or to request a copy of Employment Issues on a Transfer of Business – A Global Overview, please contact sharon.fung@mayerbrown.com .
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January 262023