Legal Question in Employment Law in Maryland

Re: Severance Pay

This is an extremely complicated question. There are ways to "sell" a company that do not involve selling that company's contractual obligations (such as it's obligations to you under a severence package). Typically, the strategy would be to sell all of the corporations assets to the acquiring corporation (including its good contracts, accounts recievables, it's name and it's goodwill). At the same time, the purchase of those assets would not include a purchase of any obligations. Such transactions are complicated; depending upon the financial status of the "selling" corporation at the time of the transfer, the transaction may be subject to challenge as well.

I would be happy to chat with you briefly free of charge to see if I can point you in the right direction after getting more factual information.

Lawrence R. Holzman

Joseph, Greenwald & Laake, P.A.

6404 Ivy Lane, Suite 400

Greenbelt, MD 20770

(301) 220-2200

fax (301) 220-1214

Disclaimer: Please note that the posting of this response is not intended to constitute legal advice. You should contact an attorney to obtain information applicable to your situation. This posting is not confidential or priviledged and does not create an attorney/client relationship.