Practice question
The parties prove imminent financial failure and, on the complete known-alternative record, show their deal is the least anticompetitive arrangement for the failing assets. They have not yet ceased operations. A reviewer rejects Section 21(b) solely because the failure is not already completed. Which is correct?
- Every imminent failure must be ignored
- Only a completed shutdown can qualify
- The actual-or-imminent wording makes that sole objection incorrect; the stipulated comparative showing remains necessary.
- Any profitable company automatically qualifies
- Financial difficulty alone always proves every element
Legal references
- Philippine Competition Act, RA 10667, Sections 3 and 20-23: https://lawphil.net/statutes/repacts/ra2015/ra_10667_2015.html
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