Fexco Innovations Ltd/BIG Estates Ltd [1995] IECA 405 (22nd June, 1995)

Fexco Innovations Ltd/BIG Estates Ltd [1995] IECA 405 (22nd June, 1995)

The Authority found that the asset sale and shareholders agreements did not have as their object or effect the prevention, restriction or distortion of competition, as the market was open to entry and the restrictions were necessary and proportionate to secure the goodwill of the business.

Citation
[1995] IECA 405
Parties
Notifying Party: Fexco Innovations Ltd.; Notifying Party: BIG Estates Ltd.; Subject Company: Cashback Ltd.; Notifying Party: Foreign Exchange Company of Ireland (Fexco)
Jurisdiction
Ireland
Procedural Posture
Competition Authority Notification / Decision on Notification Under Section 4 of the Competition Act, 1991
Outcome
Certificate granted; agreements do not offend against Section 4(1) of the Competition Act, 1991.
Legal Topics
Joint Ventures, Asset Sale Agreements, Shareholders Agreements, Market Competition, Non Compete Clauses
Competition Law Joint Ventures Asset Sale Agreements Shareholders Agreements Market Competition Non Compete Clauses

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Parties

Fexco Innovations Ltd.

Notifying Party

BIG Estates Ltd.

Notifying Party

Cashback Ltd.

Subject Company

Foreign Exchange Company of Ireland (Fexco)

Notifying Party

Procedural Posture

Competition Authority Notification / Decision on Notification Under Section 4 of the Competition Act, 1991

Legal Issues

  1. 1 Whether the notified agreements have as their object or effect the prevention, restriction or distortion of competition under Section 4(1) of the Competition Act, 1991

Ratio Decidendi

The Authority found that the asset sale and shareholders agreements did not have as their object or effect the prevention, restriction or distortion of competition, as the market was open to entry and the restrictions were necessary and proportionate to secure the goodwill of the business.

Court Disposition

Certificate granted; agreements do not offend against Section 4(1) of the Competition Act, 1991.

Orders

  • The Authority certifies that the Asset Sale Agreement and Shareholders Agreement notified do not offend against Section 4(1) of the Competition Act, 1991.