Tara Meats (Kilbeggan) Ltd/Share Subscription and Shareholders Agreement 1989 [1995] IECA 419 (8th September, 1995)

Tara Meats (Kilbeggan) Ltd/Share Subscription and Shareholders Agreement 1989 [1995] IECA 419 (8th September, 1995)

The notified agreement, as amended, does not offend Section 4(1) of the Competition Act 1991 because the restrictive covenants were either within acceptable limits or subsequently waived, and the agreement as a whole is not anti-competitive per se.

Citation
[1995] IECA 419
Parties
Company: Tara Meats (Kilbeggan) Ltd; Covenantor/shareholder/director: Anthony S. Dunne; Covenantor/shareholder/director: Barry G. Sturgeon; Covenantor/shareholder/director: John R. Mullan; Investor/manager: Business and Trading House Investment Company Ltd (BTHIC); Subsequent Purchaser/party to Amended Agreement: Dairygold Co-Operative Society Limited; Party to Amended Agreement: Rita Dunne
Jurisdiction
Ireland
Procedural Posture
Competition Authority Notification/assessment / Final Decision
Outcome
Certificate granted; agreement does not offend Section 4(1) of the Competition Act 1991.
Legal Topics
Non Compete Clauses, Shareholders Agreements, Venture Capital Investment, Section 4 Competition Act 1991, Restrictive Covenants
Competition Law Corporate Law Non Compete Clauses Shareholders Agreements Venture Capital Investment Section 4 Competition Act 1991 Restrictive Covenants

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Parties

Tara Meats (Kilbeggan) Ltd

Company

Anthony S. Dunne

Covenantor/shareholder/director

Barry G. Sturgeon

Covenantor/shareholder/director

John R. Mullan

Covenantor/shareholder/director

Business and Trading House Investment Company Ltd (BTHIC)

Investor/manager

Dairygold Co-Operative Society Limited

Subsequent Purchaser/party to Amended Agreement

Rita Dunne

Party to Amended Agreement

Procedural Posture

Competition Authority Notification/assessment / Final Decision

Legal Issues

  1. 1 Whether the Share Subscription and Shareholders Agreement 1989, as amended, offends Section 4(1) of the Competition Act 1991 by imposing anti-competitive non-compete and non-solicit restrictions.

Ratio Decidendi

The notified agreement, as amended, does not offend Section 4(1) of the Competition Act 1991 because the restrictive covenants were either within acceptable limits or subsequently waived, and the agreement as a whole is not anti-competitive per se.

Court Disposition

Certificate granted; agreement does not offend Section 4(1) of the Competition Act 1991.

Orders

  • Certificate issued stating the Share Subscription and Shareholders Agreement 1989, as amended, does not offend Section 4(1) of the Competition Act 1991.