The CBA Competition Law Section's Mergers Committee and Young Lawyers Committee present:

Mergers 102: Nuts and Bolts of the Failing Firm "Defence"

March 19, 2021 | 12:00 PM to 1:00 PM Eastern
Online (Zoom)

Many companies are expected to face insolvency or bankruptcy as a result of the ongoing COVID-19 pandemic. This could lead to a situation in which financially stronger companies may want to purchase struggling competitors. It is likely that the Competition Bureau will be asked to approve otherwise “problematic” mergers on the basis of what is commonly known as the “failing firm defence”. This panel will explain how the failing firm defence works (including whether it is really a defence at all) and when it applies based on the Bureau’s recent guidance arising from the Total Metal Recovery Inc. and American Iron & Metal Company Inc. transaction. This panel will also consider US perspectives and the impact of COVID-19.

Moderator
Ian Li, Torys LLP

Speakers
Michael Laskey, Stikeman Elliott LLP
Amanda Norton, Sidley Austin LLP
Darya Shevchenko, Competition Bureau