01-15-2009, 11:28 PM
I am hoping that you accountants here will know the answer!!
My wife has been working for a retailer for two years and has been bullied and racially abused by the store manager. She is now off work, suffering with depression. She has instructed a solicitor to represent her in seeking to take the company to an industrial tribunal.
The company has now called in an administrator and is looking for a buyer. The administrator says, "We want to proceed immediately to a sale Business Agreement with the successful bidder. For clarity, this will be an asset only sale through an insolvency process."
I don't understand what this means? If a new buyer for the company is found, will my wife still be able to pursue her claim, or has she lost out altogether with new owners in place?
Any help would be appreciated. Thanks to all.
Steve
My wife has been working for a retailer for two years and has been bullied and racially abused by the store manager. She is now off work, suffering with depression. She has instructed a solicitor to represent her in seeking to take the company to an industrial tribunal.
The company has now called in an administrator and is looking for a buyer. The administrator says, "We want to proceed immediately to a sale Business Agreement with the successful bidder. For clarity, this will be an asset only sale through an insolvency process."
I don't understand what this means? If a new buyer for the company is found, will my wife still be able to pursue her claim, or has she lost out altogether with new owners in place?
Any help would be appreciated. Thanks to all.
Steve
