Describe Business Law.

ContentYour paper should be a memo or a note or an email sent to your CEO –who has no legal background –addressing the following.You work for a successful company supplying automotive parts to car manufacturers based in Europe. The group has been performing strongly in EMEA and the US but the impact of the corona virus in China has proved fatal to the operations over there that are about to become insolvent and are at a standstill. The group has decided to put the Chinese operations up for sale before it becomes bankrupt which would be bad for the reputation of the group.Also the Chinese operations need to keep going as they are a key producer of parts that are needed by other plants of the group in EMEA and the US so letting it going down is not an option.The Chinese operations are lodged in one holding company incorporated in Hong Kong. All the shares are held by another holding company of the group incorporated in Luxembourg.The Hong Kong company employs 1,200 people in China over three production sites in Wuhan, Beijing and Shanghai. The plant in Wuhan has been in a standstill since the Chinese New Year break and it is uncertain whether and when it can start producing again.Your CEO wants you to lead the process to sell the Chinese operations of your group and to negotiate agreements with the buyer to ensure that the plants will continue to operate and be in a position to supply key parts to the group once operations start again.You are not a lawyer and no one at HQ in Luxembourg is a lawyer but given your seniority with the group the CEO has decided to leave the whole process to you. As a finance person, he has little experience of this kind of transaction but is under pressure from the group’s shareholders to close the sale of the Chinese operations before 1 July 2020 when most people will go on holiday. The mandate that he got from the group’s shareholders is not to maximize value out of the sale but to secure the best possible agreements with the buyer to ensure long term supply to the group.Your memo should be a roadmap of the process between now and 1 July 2020 describing to your CEO the steps will be to lead to the sale of the Chinese operations, with a brief explanation of each step. Your CEO has also asked you to budget how much it will cost the group in advisors fees. You should attach to your memo a simple spreadsheet showing a rough budget for the fees that will be charged by each advisor.Your memo should also indicate who you suggest retaining to assist the group in the process and which resources internal to the group should be lined up to work on the project.You should also come up with key terms for the long – term contract that your group will have with the buyer and consider ways to protect your group in case (i) the buyer is unable to produce what is required by the group as client and (ii) the buyer uses your technology in ways that are detrimental to the group.