This Directive is without prejudice to the application of Union competition law, in particular Council Regulation (EC) No 139/2004, and does not prevent Member States from enforcing national merger control systems. When selecting the best bid, the monitor should be allowed to take into account the regulatory risks presented by bids that require the authorisation of competition authorities and should be able to consult those authorities in accordance with applicable rules. The disclosure of information by the competition authority should not be contrary to national rules on the protection of business secrets. It should remain the responsibility of the bidders to provide all necessary information to assess those risks and to engage with the competent competition authorities in a timely manner in order to mitigate those risks. In order to increase the likelihood that pre-pack proceedings are successful, in the event that a bid poses such risks, the monitor or the debtor should be required to perform its role in a way that facilitates the submission of alternative bids.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
