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Buyout process

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ORIGINAL POST
Posted by ultraman17 14 yrs ago
What is the process when a staff buys themself out of an employment contract? What actions should they take to protect themselves from such a transaction? Can the current Employer reject a buyout? Is there any reference in the Labour Law that specifies a buyout is possible, and the calculations to settle a buyout?

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COMMENTS
associates 14 yrs ago
[UPDATE] Please note that fee quotes stated in historic postings may be out-of-date.


Generally speaking it is possible to “buy” out of an employment contract. i.e. payment in lieu of notice. However, we would need to review specifically your employment contract to see what exactly has been agreed and what you have in mind.


Weir & Associates

Solicitors & Notaries

16th Floor Tak Shing House

20 Des Voeux Road Central

Hong Kong

Tel : 2526-1767

Fax : 2868-3568

email: weirlaw@weirandassociates.com

website: www.weirandassociates.com

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