‘Eurotunnel began its cross-Channel ferry service in August 2012 using assets acquired from Sea France after its liquidation in 2011. The transaction was blocked by the Competition Commission in 2013 because it gave Eurotunnel too strong a presence in the cross-channel transportation market. In its 9 January 2015 judgment the Competition Appeal Tribunal dismissed Eurotunnel’s appeal against the decision by the CMA to prohibit the deal for a second time. The judgment is significant when viewed against a background of trades in distressed assets in Europe and internationally. It merits a careful reading for parties seeking to realise value from company liquidations.’
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Zenith Chambers, 13th January 2015
Source: www.zenithchambers.co.uk
