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Showing results for tags 'novation'.
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I am looking for some guidance on the best way to handle a situation of a client: a company is considering a sale of one of its subsidiaries which is implementing Government contracts. The process of finding a suitor, sale and subsequent novation of existing work is likely to take a year or more. To continue maximizing commercial value, the company obviously does not want to stop bidding on new work while this whole process is going through. Questions: 1. Does the company have the responsibility to disclose in its bids that it is in the process of sale to another contractor? 2. In order avoid issues down the line or the agency finding out of the sale and assigning a high risk, should the company include some information in the proposal? 3. Once the sale goes through, would the Government be willing to open the closed solicitations in order to update the proposals of the said company with new company info? 4. If you are a CO, would you and what would you prefer to know about the possible sale? I know there was a thread in regard to the same situation after the sale, but in this case the buyer is yet to be identified. Many thanks in advance
Company A is selling all of its assets to Company B. Novation agreements will be obtained for Government contracts. However, Company A wants to keep a CDA Claim on a contract where performance is completed but still open pending resolution of claims. Can Company A keep this one contract & litigate CDA Claim in its name, and still be eligible to novate all other contracts?