Do private settlement agreements get reassigned when a company is sold?

I entered into a settlement with my Oregon employer over a
discriminatory demotion. In the agreement a no rehire to the
position was included. The company was recently sold and I
still remain an employee with the new owners. Is the agreement
void or am I still bound to the terms which were made with the
previous company?

Asked on January 12, 2018 under Employment Labor Law, Oregon

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If the employer was an LLC or corporation and you made the agreement with the LLC or corporation *and* the LLC or corporation was itself purchased, the agreement in still in place because it is still with the same entity--just that the entity now has a different owner.
If made with an LLC or corporation but the buyer did not buy the LLC or corporation but simply bought the name and assets, hired the staff, and starting running the business, the agreement would not automatically still be in place: the agreement made with a different entity than the one you are now working for, and the new entity is not bound by what the old entity agreed to.
If the employer had been a person (e.g. a sole proprietorship) and the agreement was with that person, then again, the new employer, even if they bought the assets and files and customer list, etc. from the old employer and hired all the staff, is not bound by the agreement--again, the agreement was with a different person than the person or entity for whom you are now working.


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