On A Business Combination The Antitrust Review Of Bankrupt Companies In The Defense System

The Failing Firm Defense is a significant reason for exemption in antitrust scrutiny in companies'mergers. Its basic principle is to take the lesser of the two evils. The impact of merging a to-be insolvent enterprise to various aspects in the society will, at least, not be worse than that of the indulgence of the enterprises to quit from the market and get insolvent. As long as it is compliant with relevant legal conditions, the merger will not produce or strengthen the market dominance, or reduce the competition and result in trust. Therefore, the antitrust supervision and administration authority will approve the conduct of the merger.This thesis focuses on the legislation and constitutive requirements of the Failing Firm Defense in antitrust scrutiny for enterprises mergers in the US and the EU by analyzing the connotation, establishment, development, and value and functions of the Failing Firm Defense, and also studies the relevant cases applied to the Failing Firm Defense, so as to provide valuable legislative and judicial experience to the establishment of the Failing Firm Defense in antitrust scrutiny for enterprises mergers in our country and narrow the systematic gap between the countries and international organizations with advanced antitrust legal system and our country.This thesis is comprised of four sections:Section I. General introduction of the Failing Firm Defense in antitrust scrutiny for enterprises mergers.This section gives detailed introduction on the Failing Firm Defense in antitrust scrutiny for enterprises mergers by setting out its connotation, establishment and development, legal basis, and functions.Section II. The legislation and constitutive requirements of the Failing Firm Defense.This section introduces the legislation of the Failing Firm Defense in some of the countries and international organizations in the world, and discusses in details the constitutive requirements of the Failing Firm Defense in the US and the EU as examples, so as to understand the Failing Firm Defense more comprehensively and specifically.Section III. The legal application of the Failing Firm Defense in antitrust scrutiny for enterprises mergers.Still focusing its research emphasis on the US and the EU, this section analyzes the legal application of the Failing Firm Defense in the above countries and international organization based on relevant cases and its innovation and development, and appraises the legal application of the Failing Firm Defense.Section IV. The establishment of the Failing Firm Defense in antitrust scrutiny for enterprises mergers in China .Focused on our country, this section analyzes the preliminary legislation of the Failing Firm Defense in our country and its existing shortcomings and problems, discusses the necessity of the establishment of the said system in our country, and put forward legislative proposals for the establishment of the Failing Firm Defense in antitrust scrutiny for enterprises mergers referring to foreign experience.Conclusion: The legislative study and legal application of the Failing Firm Defense in our country is currently a brand-new area. The Failing Firm Defense system in antitrust scrutiny for enterprises mergers in our country need to be established based on foreign advance experience and the special circumstances in our country under the condition that the free completion is surely maintained.