Just before Christmas, the Supreme Court handed down its judgment finally ending the saga over Groupe Eurotunnel's purchase of various assets of the liquidated SeaFrance.
Reversing the Court of Appeal, the Supreme Court decided that UK merger control is not limited to deals involving the acquisition of a business as a going concern. This is an important decision for insolvency professionals and any businesses looking to purchase assets from a liquidator, who will now need to consider whether merger control might add to the time and cost involved in a deal (or even block it altogether, as in this case).
We have produced an update explaining the issues in more detail. Feel free to have a read!