  Several conjectures and partial proofs have been formulated on the
(non)existence of a best low-rank approximation of real-valued IxJx2 arrays. We
analyze this problem using the Generalized Schur Decomposition and prove
(non)existence of a best rank-R approximation for generic IxJx2 arrays, for all
values of I,J,R. Moreover, for cases where a best rank-R approximation exists
on a set of positive volume only, we provide easy-to-check necessary and
sufficient conditions for the existence of a best rank-R approximation.
