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Its purpose is to allow unsuccessful bidders to challenge the decision before the contract is signed. It is named after a pair of linked European Court of Justice cases which are jointly known as the Alcatel case (Case C-81/98). Under EU law a statutory "standstill period" was introduced by the Remedies Directive as amended in 2007. [1]
Complementary bidding, also known as cover bidding or courtesy bidding, occurs when some of the bidders agree to submit bids that are intended to be unsuccessful so that another conspirator can win the contract. For example, the cover bids might contain prices that are uncompetitive in relation to the prices submitted by the conspirator, who is ...
A stalking horse offer, agreement, or bid is a bid for a bankrupt firm or its assets that is arranged in advance of an auction to act, in effect, as a reserve bid. [1] [2] The intent is to maximize the value of its assets or avoid low bids, as part of (or before) a court auction.
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After the scrapping of Sydney Rovers in 2010, the FFA approached the Greater Western Sydney Football Group, one of the unsuccessful bidders in the second expansion round, to assess their readiness to enter the competition in the 2012–13 season. The proposed team, based at Stadium Australia in Homebush and named "The Wanderers," was considered ...
Since the auctioned item is worth roughly the same to all bidders, they are distinguished only by their respective estimates of the market value. The winner, then, is the bidder making the highest estimate. If we assume that the average bid is accurate, then the highest bidder overestimates the item's value. Thus, the auction's winner is likely ...
Amongst the bidders, Turkey remained the only country that had not hosted any European Championship or the World Cup. On 23 December 2009, Turkish Minister of Sport Faruk Nafız Özak announced Turkey's official candidature logo and the eight host cities (Ankara, Antalya, Bursa, Eskişehir, Istanbul, İzmir, Kayseri and Konya) and three backup ...