If my employer went bankrupt and a completely new company buys it out, will my contract carry over?

I have a 90 day notice clause upon leaving, will this still be the case if it's now a completely new company running the show? Can they sue me for breach of contract?

1 answer  |  asked Jan 23, 2017 6:09 PM [EST]  |  applies to Illinois

Answers (1)

J. Bryan Wood
The answer depends on many factors, including: (a) whether your contract with the bankrupt company contains an assignment clause; (b) whether the successor entity acquired your contract as part of its acquisition of the bankrupt entity; (c) whether there is a "change in ownership" clause in your contract that permits you to leave or changes the notice period. I strongly encourage you to contact an experienced employment lawyer to analyze your contact. There are many, but great ones include Anne Choate and Carrie Herschman of Choate Herschman or Megan O'Malley and John Madden of O'Malley & Madden.

posted by J. Bryan Wood  |  Jan 24, 2017 08:37 AM [EST]

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