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We are selling one of our hotels and I currently have an open L&I Claim with it. Once sold, I am assuming the claim stays with us. Am I correct? Also, do I have any other responsibilities with thi
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Property Selling

posted at 6/24/1999 8:54 PM EDT
Posts: 27
First: 6/15/1999
Last: 1/30/2006
We are selling one of our hotels and I currently have an open L&I Claim with it. Once sold, I am assuming the claim stays with us. Am I correct? Also, do I have any other responsibilities with this employee in regards to employment?
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Property Selling

posted at 6/28/1999 6:02 PM EDT
Posts: 2217
First: 6/16/1999
Last: 12/13/2001
Well, actually, this is a pretty complex question which (in part) turns on the underlying business deal. You say one employer is selling the hotel, but do not say how it is being sold. Is this an asset-purchase? Is this a stock sale? Is this just a remote "buy this 50 billion dollar hotel and ask no questions about it?" Depending on the structure of the transaction, in some cases all liability passes to the new owner, in some cases none of the liability passes to the new owner and in some cases the liability may be "joint and several" meaning that the employee can go against both the new owner and the old owner.

I have some general materials on the legal and labor relations implications of mergers and acquisitions. If you would care to read them, just e-mail me your name, title, company, addess and related specifics. I'll drop them in the mail to you.

Matthew T. Miklave, Esq.
Epstein Becker & Green, P.C.
250 Park Avenue
New York, New York 10177
(212) 351-4663
(212) 661-0989 (fax)
MMiklave@ebglaw.com
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