The failing firm doctrine in South Africa
Notice bibliographique
Résumé
The financial and economic crisis has put businesses all over the world in danger of going out of business leading to the biggest industry restructuring in decades. measures may not be sufficient to ensure a firm's survival and competitiveness. Mergers and acquisitions can be one of the options at the disposal of the distressed firm. The failing firm doctrine or defence allows failing firms to merge or be acquired by a profitable firm in a transaction that would normally be regarded as anti-competitive in a merger review. The legislative framework that incorporates and applies the failing firm doctrine in South Africa is set out in section 12A(2)(g) of the Competition Act. It lists the failing firm doctrine as one of the factors to be considered when determining whether a merger will result in the substantial prevention or lessening of competition. Under the failing firm defence in South Africa, a merger that would be prohibited due to its anti- competitive effect could be permitted if the alleged failing firm (a) is unable to meet its financial obligations, (b) there is no other offer from a firm that would result in less anti- competitive effects, and (c) its assets would exit the market in the absence of the merger. This dissertation considered the failing firm doctrine in respect of merger evaluation and discussed the objectives set out in the Competition Act 89 of 1998. It has evaluated how the failing firm doctrine is formulated in South Africa aligns with the interpretation and application thereof in foreign jurisdictions such as the United States of America, the European Union, and Canada. It has taken into consideration a variety of case law and secondary sources to explore first, how the defence is approached and applied, and second, whether it is necessary to reconsider the defence in light of the pandemic. Furthermore, while the defence in general is taken into consideration, the pandemic has highlighted the importance of the defence's role in accomplishing goals in achieving public interest objectives. This dissertation argued that the substantive assessment test in section 12A of the Competition Act 89 of 1998 is capable of preserving a competitive market structure by treating the doctrine as a factor, that the flexible approach that competition authorities currently take, is capable of taking into consideration any economic crisis.
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Prédiction distillée sur la base complète
Imitation des enseignantsNi prévalence calibrée, ni vérité terrain. Validation humaine à venir. Apprise à partir de 10 348 étiquettes directes de Codex et de 10 348 étiquettes directes de Gemma. Le mode candidate est l'union des têtes enseignantes seuillées; le consensus est leur intersection. Ces sorties portent le statut machine_predicted_unvalidated et ne sont ni des étiquettes humaines ni des étiquettes directes de modèles de pointe.
Scores Codex et Gemma par catégorie
| Catégorie | Codex | Gemma |
|---|---|---|
| Métarecherche | 0,000 | 0,000 |
| Méta-épidémiologie (sens strict) | 0,000 | 0,000 |
| Méta-épidémiologie (sens large) | 0,000 | 0,000 |
| Bibliométrie | 0,001 | 0,001 |
| Études des sciences et des technologies | 0,001 | 0,001 |
| Communication savante | 0,000 | 0,000 |
| Science ouverte | 0,001 | 0,000 |
| Intégrité de la recherche | 0,000 | 0,001 |
| Charge utile insuffisante (le modèle a refusé de juger) | 0,000 | 0,001 |
Scores machine (provisoires)
Les deux têtes enseignantes du modèle étudiant, lues sur ce travail. Un score ordonne la base pour la relecture; il n'affirme jamais une catégorie, et le statut de validation accompagne chaque rangée tel quel.
Scores de référence d'un modèle non mature (critères de maturité non atteints, 7 itérations). Un score ordonne; il n'affirme jamais une catégorie.
score_only:v0-immature-baseline · tel quel depuis la passe de notation : score_only signifie que le nombre peut ordonner les travaux, et qu'aucune étiquette de catégorie n'en découleClassification
machine, non validéePrédiction automatique; un appel candidat d’une seule tête enseignante, pas un consensus.
Le détail, modèle par modèle et score par score, se trouve en fin de page sous « Comment cette classification a été obtenue ».