Package includes:

Online CPD Module  l  Electronic booklet  l  PowerPoint Presentation

Package Fee (incl GST)

• $149 - NZLS members and Associate members
• $179 - Non-members

Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.

Online CPD Module

Understanding the obligations to the workforce when buying or selling a business is essential in ensuring a smooth transition from one business to another. This module will include some of the key employment-related considerations that you need to be aware of when advising your clients on the sale and purchase of a business. It will be suitable for any practitioner who advises on the employment aspects of sale and purchase agreements.

Topics covered will include:

• The legal framework
• Share sales
• Asset sales
• Vulnerable employees.

Learning objectives

By completing this module you will:

• Gain an understanding of the key employment legal requirements of an employer who is selling or buying a business.
• Be aware of the special protections afforded to vulnerable employees.
• Come away with some practical tips to assist you in providing advice, both internally and externally.

Electronic paper 

Authors: Ashley-Jane (AJ) Lodge, Sarah Townsend
Published: 29 November 2023
Pages: 15

Introduction

There are a number of employment issues which arise when selling or purchasing a business. Each transaction is different and so the issues and process required in each case will vary. That said, the same employment law issues commonly arise.

There is no automatic transfer of employment from vendor to purchaser. Nor is there a default process to follow, or a default employment agreement imposed by law.

The provisions of the Sale and Purchase Agreement (SPA), and each affected employee’s employment agreement, will determine the applicable process and obligations for both the vendor and the purchaser.

There is no “one-size-fits-all” employment clause for SPAs. Relying on precedent clauses from previous transactions may not be appropriate and could impose unnecessary, onerous and unwanted contractual obligations on the parties.

As share sales are relatively straightforward from an employment perspective, the situation of an asset sale is the focus of this paper.

PowerPoint Presentation

These are the slides included in the presentation.