When is a Leaver “Transfer Notice” deemed to be served by an Employee who is also a Director PDF | 1.18 MB
In Syspal Capital Ltd v Truman & Anor the English High Court of Justice considered the question of when a “transfer notice” is deemed to be served by an employee who is also a director. The case demonstrates that when drafting leaver provisions in private equity transactions, it is important that the parties are clear as to when the compulsory transfer mechanism is triggered in circumstances where a leaver may hold multiple positions in a group.