Canada Life Assurance Co of Gt. Britain/Lloyds Abbey Life [1994] IECA 323 (5th May, 1994)
The amended agreement, limiting non-compete enforcement to two years, does not offend Section 4(1) as the restrictions are no more than necessary to secure the transfer of goodwill.
- Citation
- [1994] IECA 323
- Parties
- Purchaser: Canada Life Assurance Company of Great Britain Limited; Vendor: Abbey Life (Ireland) Holdings Limited; Guarantor: Lloyds Abbey Life plc
- Jurisdiction
- Ireland
- Procedural Posture
- Competition Authority Notification / Final Decision
- Outcome
- certificate granted
- Legal Topics
- Merger Control, Non Compete Clauses, Market Concentration, Certificate Issuance
Case Brief
Summary, issues, holding and outcome
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Parties
Canada Life Assurance Company of Great Britain Limited
Purchaser
Abbey Life (Ireland) Holdings Limited
Vendor
Lloyds Abbey Life plc
Guarantor
Procedural Posture
Competition Authority Notification / Final Decision
Legal Issues
- 1 Whether the acquisition agreement and associated non-compete provisions offend Section 4(1) of the Competition Act, 1991
- 2 Whether the restrictions in clause 8.2 are necessary and proportionate to protect goodwill
Ratio Decidendi
The amended agreement, limiting non-compete enforcement to two years, does not offend Section 4(1) as the restrictions are no more than necessary to secure the transfer of goodwill.
Court Disposition
certificate granted
Orders
- Certificate issued confirming the agreement does not offend Section 4(1) of the Competition Act, 1991.
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