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Professional indemnity and successor practices

During mergers and acquisitions, firms must take care to prevent employment issues arising among the transferring staff, writes Stuart Jones

20 April 2016

Under Solicitors Regulation Authority rules, if your organisation acquires another firm of solicitors, you may well become the 'successor practice' for that firm. This may lead to significant liability for any professional indemnity insurance claims against the 'old' firm. This is obviously a core risk and compliance consideration for any practice planning to acquire or merge with another.

However, it is also crucial to consider the employment issues that inevitably arise when two firms come together. Failure to handle the transition properly could leave your business exposed to expensive employment tribunal claims.

TUPE requirements

When a firm changes hands, Transfer of Undertakings (Protection of Employment) Regulations 2006 (TUPE) is likely to apply. This means that the staff of the old firm (or at least the team or department you have taken on) w...

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