Should I involve a solicitor?

Beatle_Ray

Hello, I need some advice please, my company is in the process of being taken over my another company, they are buying our shares, there is in the post to me a new contract from the new owners, I haven't received it yet but I have been at my existing company for 34 years and would have built up some redundancy entitlement, my question is should I get a solicitor to look at the contract and also how much should I expect to pay for that? Thanks in advance to all those who reply

TadleyBaggie

I recently used an employment solicitor to review a settlement agreement, they charged £220 per hour + VAT but was capped at £500 +VAT.

tomtontom

Are you being TUPEd? If so you will maintain continuity of service.

Do you have normal shares in the company? If so you cannot normally be forced to sell them. Are you happy with this arrangement?

Before getting a sol I'd read through the contract and see if anything stands out to you as concerning.

Beatle_Ray

Thanks for the replies my understanding is that I am being TUPED, I don't have any shares

VXR8

If you work for a large employer (sounds like you do if the new Co is buying your shares) you and all the other workers should have gone through (or will be receiving soon) a consultation on behalf of the new employer. This is their opportunity to tell you what is likely to happen.

The rules governing TUPE are clear, that changes to existing contracts should not be to the detriment of the employee and if they are shown to be can be challenged in a court.

I wouldn't do anything until you go through the consultation (ask when this is happening and if not then why) or compare contracts.

getmore4less

Normaly no TUPE with a share buy out.
No need for any consultation on a share buyout.

The same Employer entity exists until they do something else to that legal entity.