AIB Investment Managers Ltd/Hamptoncove Holdings Ltd [1995] IECA 398 (26th April, 1995)

AIB Investment Managers Ltd/Hamptoncove Holdings Ltd [1995] IECA 398 (26th April, 1995)

The notified share subscription agreement, including non-compete and restricted transaction clauses, is ancillary to the investment, necessary to protect the interests of the new investors, and does not offend Section 4(1) of the Competition Act, 1991.

Citation
[1995] IECA 398
Parties
Notifier: AIB Investment Managers Ltd; Party to Agreement: Hamptoncove Holdings Ltd; Party to Agreement: Killarney Park Hotel Ltd; Party to Agreement: Padraic Tracey; Party to Agreement: Janet Tracey; Party to Agreement: Erin Executor & Trustee Co. Ltd; Party to Agreement: The Ross Hotel (Killarney) Ltd
Jurisdiction
Ireland
Procedural Posture
Competition Authority Notification Decision / Final Decision and Certificate Issued
Outcome
Certificate granted; agreement does not offend Section 4(1) of the Competition Act, 1991.
Legal Topics
Share Subscription Agreement, Non Compete Clauses, Venture Capital Investment, Section 4 Competition Act 1991, Ancillary Restraints
Competition Law Share Subscription Agreement Non Compete Clauses Venture Capital Investment Section 4 Competition Act 1991 Ancillary Restraints

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 2 Authorities cited 3 Party arguments 2 Amounts and remedies 6
Sign in to unlock

Parties

AIB Investment Managers Ltd

Notifier

Hamptoncove Holdings Ltd

Party to Agreement

Killarney Park Hotel Ltd

Party to Agreement

Padraic Tracey

Party to Agreement

Janet Tracey

Party to Agreement

Erin Executor & Trustee Co. Ltd

Party to Agreement

The Ross Hotel (Killarney) Ltd

Party to Agreement

Procedural Posture

Competition Authority Notification Decision / Final Decision and Certificate Issued

Legal Issues

  1. 1 Whether the share subscription agreement contains provisions that offend Section 4(1) of the Competition Act, 1991
  2. 2 Whether non-compete and restricted transaction clauses are anti-competitive

Ratio Decidendi

The notified share subscription agreement, including non-compete and restricted transaction clauses, is ancillary to the investment, necessary to protect the interests of the new investors, and does not offend Section 4(1) of the Competition Act, 1991.

Court Disposition

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

Orders

  • Certificate issued stating the agreement does not offend Section 4(1) of the Competition Act, 1991.