Faithful readers of the DMC blog will know that we told the dental community about an important case from Ontario back in November 2017. Since then, Canada’s highest court has confirmed what the Ontario Court of Appeal said:
A buyer of dental assets (in an asset sale) can offer to continue employment for all of the dental team (using similar terms of employment) AND the buyer and seller can rely on that offer of continued employment as consideration for those changes to their employment.
This does not come as a surprise to us here at DMC. We have been helping dentists with their employment law needs and buying/selling of practices for a while now.
If you are thinking about selling your dental practice and you have at least one employee (it’s very likely you do), you need to speak to an employment lawyer to make sure you are covered by this case and the myriad of other laws that apply to your team in the process of an asset sale (or even a share sale).