Acquisition of Assets of Companies In Crisis and Market Concentration: Analysis From the Perspective of the Failing Firm Defense Theory

Abstract

Mechanisms of companies’ recovery may lead to market concentration, thusly, highlighting the need for harmonization between institutes of Corporate Recovery Law and Antitrust Law. Therefore, the theory of the ‘failing firm defense’ is a possible solution for this problem – specifically, in cases in which acquiring assets of struggling companies in rehabilitation may lead to market concentrations. Finally, this paper defends the thesis that, if their application criteria are met, the theory of the failing firm defense is compatible with the Brazilian legal system, contributes both to the preservation of business activities and upholds the continuation of the free competitive market.

Keywords

• Direito concorrencial
• Recuperação judicial de empresas
• Concentração de mercado
• Aquisição de ativos
• Teoria da failing firm defense