We’re examining several topics that relate to competition regulation in a post-pandemic world. First, we’re exploring how the European Union (EU) is providing (or failing to provide) state aid to companies that need it. Then, we’re shifting our attention to business bankruptcy filings and the potential avoidance of competition regulations that apply to merger transactions. Finally, we’re discussing scarcity and price gouging in the U.S.
Joining Michael for this conversation is a panel of esteemed guests, Leo Caseria, Jacques Derenne, David Garcia, and Bevin Newman.
Leo Caseria is a partner in the Antitrust and Competition Practice Group in the Washington, D.C. and Los Angeles offices of Sheppard Mullin. He advises companies on antitrust issues in civil litigation, government investigations, mergers and acquisitions and proposed or contemplated business strategies.
Jacques Derenne is the Co-Leader of Sheppard Mullin'sAntitrust and Competition Group and the head of the EU Competition & Regulatory practice at Sheppard Mullin’s Brussels office. He is a member of the Brussels and Paris bars. He is also a Professor at the University of Liège and at the Brussels School of Competition.
David Garcia is a partner at Sheppard Mullin’s Century City office. He is a litigator with a broad background in complex civil litigation for major U.S. companies, including extensive class action and multidistrict litigation experience. His practice focuses principally on antitrust litigation and counseling with particular emphasis on the entertainment industry, provider side healthcare mergers and the intersection between antitrust and intellectual property in litigation and joint ventures.
Bevin Newman is a partner in the Antitrust and Competition Practice Group in the firm's Washington, D.C. office. Bevin is a strategic adviser to clients in cutting-edge affiliations and collaborative arrangements. She focuses much of her practice in the healthcare industry, bringing over 20 years of experience advising and defending globally renowned health systems, academic medical centers, providers, payers and pharmaceuticals companies undertaking significant transactions, including mergers and acquisitions, joint ventures, intellectual property licenses and innovative alliances, as well as on conduct matters.
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What We Discuss in This Episode:
- What does state aid control look like in the European Union (EU) and how is it coming into play in this post-pandemic world?
- How does state aid ensure market integration in the EU?
- How can the EU grant state aid without crossing the lines of regulations?
- What are several criticisms one of our guests has regarding the EU’s handling of the crisis recovery?
- If a company accepts state aid from a Member State, is it possible that there will be legal action brought against them for violating competition laws?
- How can a failing company going through Chapter 7 bankruptcy proceedings potentially preclude itself from the scrutiny of competition regulations?
- What interest might the Federal and state governments have in flailing or failing companies that are potentially getting around antitrust regulation through the filing of bankruptcy?
- Are we likely to see increased consolidation and mergers in the healthcare industry?
- What protection does the failing firm defense provide?
- How is each state handling price gouging of goods and services? What laws exist to regulate pricing?
- Is there a benefit to the creation of a Federal price gouging law that would harmonize the laws across the states?
Resources:
- "DOJ Issues First Business Review Letter Approving Competitor Collaboration In Response To COVID-19," Antitrust Law Blog, April 17, 2020
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"Speeding Up and Slowing Down Antitrust Reviews – How the Federal Antitrust Agencies Are Responding to the COVID-19 Crisis," Antitrust Law Blog, March 30, 2020
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"COVID-19 is Not a “Get Out of Jail Free Card” from EU Competition Law," Antitrust Law Blog, March 24, 2020
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"COVID-19 Outbreak and Adjusted EU State Aid Control," Antitrust Law Blog, March 23, 2020
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"Coronavirus Sparks Changes to Premerger Notification Process at the FTC," Antitrust Law Blog, March 16, 2020