“We are very pleased to announce today the conclusion of the sale agreement with Investissement Québec to sell Focus Graphite`s 50% stake in the Kwyjibo project,” commented Gary Economo, Managing Director of Focus Graphite. We believe that the sale of this asset will unlock significant value for our shareholders and allow Focus Graphite to prioritize its resources for the remaining projects in the company`s development pipeline. Once the seller and buyer have jointly decided not to apply the GST and the QST, the seller is not required to collect these taxes and the buyer is not required to pay them. However, this is not the case: legal due diligence for an asset transaction is generally the same, although it focuses on issues related to acquired/accepted assets or liabilities. To make the choice, you and the buyer must complete the FP-2044-V form, choose with the purchase of a business or part of the business and send it to us. Otherwise, the purchaser is solely responsible for the severance pay sought by these employees, unless the transaction agreement provides for something else, unless there is a serious reason or sufficient good reason. Conversely, if a worker`s employment contract is terminated by the seller before the sale of the business (at the buyer`s request or not), subject to the same restrictions and assuming that the buyer does not hire the employee dismissed after the sale, solely responsible for the severance pay. In both cases, workers who are assigned two (2) years of continuous service may also file a complaint and attempt to reintegrate into the new employer, i.e.dem purchaser, unless a valid and sufficient reason is established. In particular, the former employer, namely the seller, and the new employer, namely the purchaser, are firmly bound to any civil action brought in accordance with current labour standards that was not paid at the time of the sale of the business. Therefore, if a worker`s employment contract is not terminated by the seller prior to the sale of the company, it is important that the buyer include in the transaction contract compensation provisions for these claims.
Subject to the legal rules of the estate, the purchaser of assets does not inherit pre-closing bonds, unless the buyer leaves in accordance with the sale contract or in Quebec. The buyer is looking for the hook for all obligations arising from the date of reinstatement. Again, negotiated compensation provisions may reduce the buyer`s claim for the employer`s legal inheritance obligations, but the purchaser remains on the basis of those obligations to the rehired workers. In Quebec, the buyer of assets inherits the largest number of pre-closing bonds.