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COBRA DISCONTINUANCE UPON ASSET SALE

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Posted by mark on March 03, 2009 at 14:19:46:

When Company A acquires Company B through an asset acquisition, and runs the business of Company B, including maintaining corporate offices, fixtures, fittings, client lists, business records, etc - as well as some of the prior employees of Company B, does Company A have an obligation to offer COBRA coverage to the former employees of Company B. Company B cancelled its health care plans upon the asset sale. It feels to me like the asset sale was a tactic for the acquiring company to avoid liabilities, including COBRA.

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