failing company exception
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 402 U.S. 549 - United States v. Greater Buffalo Press, Inc. · 1971Most cited · 72 citing opinions
That test is met only if two requirements are satisfied: (1) that the resources of International were 'so depleted and the prospect of rehabilitation so remote that it faced the grave probability of a business failure,' International Shoe Co. v. Federal Trade Comm'n, 280 U.S. 291, 302, and (2) that there was no other prospective purchaser for it.