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  1. #3
    Join Date
    Oct 2006
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    16,474

    Default Re: Sign on Bonus - Sears Bankruptcy - New Company Acquires - Resignation - Return Bo

    Quote Quoting pg1067
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    Or not....




    You've provided us with no information that would allow for the conclusion that the agreement is not valid. Whether Transformco is a successor in interest to Sears with standing to enforce that agreement isn't something that we can determine without reading the agreement (as well as the agreement you signed with Transformco) and without knowing exactly what Transformco purchased and how that purchase was structured.

    In other words, the best possible answer anyone can give you based on your post is "maybe." For $5k, it might be worthwhile to seek a consultation with a local attorney and to pay for a letter argues you shouldn't be liable and, maybe, which offers some sort of compromise (e.g., payment of $2,500) to resolve the dispute. The alternative would be to tell Transformco to pound sand and see if the folks there think it's worthwhile to sue you (presumably in small claims court) over $5k.
    I agree that it would be difficult to say with certainty that the original agreement with Sears is not binding for Transformco for the same reasons stated above. We just don't know the details about the sale. However, since you are not property to be bought and sold, and since Transformco is not buying Sears as a whole, but rather only buying some of the assets of Sears the question would be as to whether or not your contract with Sears was an asset that could be sold separately.

    I don't think it is, therefore I would probably go the "pound sand" route and ignore them unless they actually file something in small claims court.

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