Employee rights legislation may have scuppered Park Row/2plan deal

Lawyers acting for both parties were set to sign an agreement for the transfer today, but IFAonline understands the board of Royal Liver, which owns Park Row, was concerned by the financial implications of the legislation, known as the Transfer of Undertakings (Protection of Employment) Regulations (TUPE). Royal Liver was hoping to include 90 head office staff in the transfer, but 2plan was most interested in Park Row's adviser base. As the staff would not be included as part of the deal, Royal Liver would have been forced to cover their redundancy costs as the Park Row business was ...