Ralls Corp wins lawsuit on U.S. wind farm investment
August 18, 2014 Category Foreign investment, Weekly
Chinese-owned Ralls Corp won its lawsuit against U.S. President Barack Obama’s decision to block its wind farm project in Oregon as a national security risk because it was located near a U.S. naval facility. The U.S. Circuit Court of Appeals for the District of Columbia handed down a ruling that said the Committee on Foreign Investments in the United States (CFIUS) failed to provide Ralls with constitutional due process. “If upheld, the Court of Appeals decision in the Ralls case has far-reaching implications for the way CFIUS does business,” Washington-based Anne Salladin, the special counsel for national security, CFIUS and compliance practice at the law firm of Stroock & Stroock & Lavan, told the South China Morning Post. It is not known whether the ruling will be appealed or whether the Obama administration will seek a re-hearing. Appellate courts in the U.S. sometimes grant re-hearing of a case before all the judges of a court. It added that the U.S. President retains the authority – immune from judicial review – to approve or disapprove transactions.
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