Hi Emmzzi,

Thank you for the input.

The rights for a single employee seem a little wooly.

"If your employer is making up to 19 redundancies, there are no rules about how they should carry out the consultation."

It would be difficult for me to approach my boss about it, because it could cause problems for my informant friend. (Not many ways I could know about this happening).

My friend tells me that, because of my skill base, I am viewed as a major part of the asset purchase, and I do know that I will definitely be kept on in my current role because of those skills

I just feel a little impotent, knowing that I'm being bought and sold "without my knowledge" so to speak.

Oh well.

As I'm apparently considered such an asset, I suppose I should view it more as an opportunity to re-negotiate more favourable terms and conditions, as and when it happens.

From reading around, an asset buyout includes employees, which brings TUPE into play.

I can't ask anything officially, because officially "I don't know what's going on".

I do know from another source that I am being transferred. The old Company will be dissolved.

It seems, again from from reading around, that I should be informed / consulted at some point during the process.

Just wondering if anyone on the forum has specific knowledge about this?

(Because of personal circumstances, I personally wouldn't actually mind redundancy right now).

Thank you for opening the thread Nicky.

Just adding a bit more information here, to see if the advice given already is still current / valid?

I now know that the buyout will be assets only.

I've also had a look around and the impression I get is that any employees (just me) should be consulted/advised prior to the transfer happening?

I've been told nothing.

Any further advice very gratefully received.

Thank you.

Hi Andy and thanks for your input.

Nothing to do with debt as such.

Long story, but it was a messy family legal wrangle.

As part of a settlement, there's an agreement for money to go into a trust for our children, to be given to them on 30th birthday. (2029 and 2030).

This restriction is presumably intended to prevent us from selling up and doing a runner with our children's money... As if!

We'd rather hold onto the money until it's needed rather than put it into the hands of trustees, but if we've no choice, then so be it.

Joint, with wife.

Thanks very much for the answers.

Yes, the wording really says it all.

Written consent (by a solicitor actually) has to be given for a sale to take place.

Thanks for pointing that out.

Oh, well.

I just hope the Solicitor involved, acts more professionally than they did when the original legal shenanigans were going on.

So...

Just to be sure...

From the wording, is this a Form K restriction please?

RESTRICTION: No disposition of the registered estate by the proprietor of the registered estate , or by the proprietor of any registered charge, not being a charge registered before the entry of this restriction, is to be registered without a written consent signed by XXXXXXXXXXXXXXX.

I understand that a Form K restriction is NOT a charge and should just disappear when selling the property, as long as the conveyancer knows what they're doing?

Thanks very much Andy.

Hi,

Just a quick question people...

I've got my house on the market and suspect that there may be a form K restriction on it.

Do I just need to order a copy of the title register to find this out?

Many thanks.

Also,

Things could be different to what I thought I knew.

I obviously don't know how things will be handled.

It's the owner of an existing company (competitor) buying us out, so I don't know whether I'd be working for the same (old) company, or the new one.

Small.

The owner plus me.

Thanks for the help.

Just have to wait for it to happen now.

Hi there,

I've discovered in a roundabout way, that the company I work for, is in the process of being sold.

I'm aware of my TUPE rights, but do I have a right to be informed that it's actually happening?

Thanks.