restrictive covenants

[badbadhabit]

Hello there,

I have a question relating to my current situation. I was employed in a sales based role for 4 years and within my contract of employment have a number of covenants such as non solicitation and non dealing for a 12 month period. The LTD company that I was employed by is to be sold and will cease trading as the buyer wants just the client bank and it is being taken over by an already formed business.

Once my previous employer has shut its doors am i still bound by the convents?

Any help much appreciated

Badbadhabit UK.

[SueEllen]

To be honest it depends on the exact wording of your covenants and also the wording of the contracts between the two parties.

You would have to ask your employer what exactly the buyer is buying in writing, and then get a solicitor to look at the wording in your contract.

Also some of your solicitation clauses may be irrelevant or too restrictive, but only a solicitor could tell you that due to the role you undertook.

[northernladuk]

I would think in sales they take these clauses very seriously. You would also expect that if someone else bought the company they bought the staff and cv's as well.

Not a position I would be prepared to second guess so would get legal advice. Heard some right stories about people stealing customers etc in sales and companies getting nasty.

[NickNick]

Sounds to me like someone has bought a failing agency for the contractor book.