We will record here any changes to this resource as a result of developments in the law or practice.
A toolkit for employees in a transaction
This note is a guide to Practical Law Emloyment materials on TUPE relating to managing employees in an asset purchase transaction.
Transfer of undertakings
An asset purchase is likely to be subject to the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246) (TUPE) and so the transferee will, in most cases, acquire all of the employees employed in the business at the time of the transfer on their existing terms of employment, together with any rights and liabilities relating to them. There are therefore several issues relating to employees that both parties should consider on an asset purchase.
The toolkit, Transfer of undertakings ( www.practicallaw.com/7-506-5728) , provides links to all maintained resources relating to TUPE and employees on an asset purchase.