Agency change in company

[Lance]

Usually when a company is ‘bought’ like this the contracts are part of the sale.

So newco owns your contract now. As for handcuffs, the moment you accept the newco you by implication accept the same terms. If you refuse to accept the terms then they could just not issue a new contract. Which I guess you don’t want.

Handcuffs enforceable? Well... they might not be anyway. But if you were seen to breech them, and it went to court, and if the clause itself was considered valid and applied to you then the judge would have to consider whether newco are the fair and genuine owners. Seeing as the directors are the same I doubt there’ll be any argument they’re not other than yours. So I wouldn’t use that transfer as a get out jail card if I were you.

[PokemonStay]

Happens all the time. It will change nothing.

[WTFH]

https://beta.companieshouse.gov.uk/company/05972467

Looking on Companies House, I'm not sure calling it "being bought" when the new directors are the same as the old ones and... well, I'd want to check it carefully.

[fidot]

or novation

[meridian]

Your contract will be key to this. You need to look for clauses that refer to ‘Right to assign’.

Thanks Andy, much appreciated.

[Andy Hallett]

Your contract will be key to this. You need to look for clauses that refer to ‘Right to assign’.

[meridian]

This is a new one on me. Midway through the contract, the agency has been bought out and is changing company. I would have thought that this invalidated a whole host of things (contract, handcuffs, etc) but I could be wrong.

Anyone come across his before, and/or any implications I need to worry about?

Relevant sections of the email below:

In addition we are delighted to announce that following an acquisition of UA in a Venture Capital backed deal, a new co. has been formed and TVWW Ltd has now purchased the business and assets of Uniting Ambition Contract Limited. This marks a new exciting chapter for our company, this really strengthens us moving forward and will allow opportunities to be a more attractive partner to you our supplier.

Effective from the 2nd November our Legal Entity has changed. Whilst our trading name will remain the same “Uniting Ambition”, our company registration and VAT, will change.

Prior to and Including 02nd November 2017 – No action is required.

All invoices you have sent previously, will be processed as normal and paid to you as per the terms of your contract.

As from the 3rd of November 2017 onwards - All invoices relating to services provided by you, must be addressed to the new legal entity, details as below:

<snip details>

All future payments to you will be processed from TVWW Ltd T/A Uniting Ambition and all future contract extensions will include the above details.