Jumping the gun? Share sales, TUPE transfers and garden leave
It is established law that a share sale of itself will not give rise to a transfer under TUPE. However, after the share sale, changes to the buyer and/or seller company may lead to a change of control or merger which does trigger a TUPE transfer, at which point a departing employee may object and free himself from the constraints of his notice period and/or his covenants.
Jennifer Nicol and Naomi Sansom consider the recent case of ICAP Management Services Ltd v Berry and BGC (Holdings) Ltd in which this issue arose.
The article, which can be viewed here, was originally published in the ELA Briefing and has been shared with their permission.
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