In its defense, Thermo Fisher Scientific claimed that GV Instruments was failing and that the company would have likely been immediately liquidated. The CC decided that GV Instruments was more likely to go into “administration,” which is similar to the US’ Chapter 11 bankruptcy. The CC also found that GV Instruments would most likely have been bought, in parts or completely, and that the purchasers would have been able to compete with Thermo Fisher Scientific in the IRMS market. According to the CC’s report, the buyer of GV Instruments, or its gas IRMS and TIMS assets, must be able to “enable the divested business to develop as an effective competitor.” This may be a challenge, as the IRMS market is small and only growing marginally. The CC cited Tesla Engineering and Glenrose as possible acquirers of the entire business, an option it prefers, and Mass Spec Solutions and Analytech as possible acquirers of the Gas IRMS product line. The purchaser must be approved by the CC, which will appoint a Monitoring Trustee.