In The United States Bankruptcy Mergers And Antitrust Review Of The Plea

Since the Supreme Court's landmark decision in International Shoe Co. v. FTC in 1930, courts have widely applied the Failing Company Defense to mergers involving failing companies. The Failing Company Defense permits an otherwise anticompetitive merger or acquisition if the involved parties can demonstrate that, but for the transaction, the acquired firm would fail. The most widely accepted version of the Failing Company Defense is that promulgated by the Department of Justice and the Federal Trade Commission in the 1992 Guidelines, provided three criteria that parties must satisfy to sustain the failing firm defense.The dissertation focuses on the Failing Company Defense in America by analyzing the development, leading cases and different opinions from the experts, especially for the new development of the Failing Company Defense. In the last part, the suggestions to the establishing of the Failing Company Defense in our country will be discussed.In China, there is now official Anti-Monopoly Law till now, the same as the Failing Company Defense. The materials studying on the Failing Company Defense are limited. The judicial experience of American, which is the origin both of the Anti-Monopoly Law and the Failing Company Defense, are excellent example for China.