For everyone concerned, the competitor of my client does very bad things, including pulling the strings in local law enforcement which makes things more complicated.
Personally, I dislike the idea of such extreme measures as "clicking off" the adwords, stealing content, selling competitors off to law enforcement or tax authorities, etc. I do prefer the fair play and believe in the ultimate wisdom of the market, which rewards the worthy and punishes those who are otherwise.
Yet, war can be unfair, but my actions would be purely defensive. Anyway, I thank everyone for your input!