The UK Supreme Court has decided that Groupe Eurotunnel's purchase of various assets of SeaFrance was subject to the UK merger control regime, despite SeaFrance having gone into liquidation more than six months prior to the purchase.
This was the final stage of a long-running dispute about whether or not a business in liquidation can still be an 'enterprise' for merger control purposes.
The decision could have significant consequences for insolvency practitioners and businesses looking to buy assets from a liquidator. They will need to factor in the risk of merger control, which can add significant time and cost to a deal or perhaps even block it altogether.
For a more detailed analysis of the decision, click here.
