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Thursday, November 7, 2013

Chinese Corporation Loses Court Battle Over National Security Rejection of Wind Farm Acquisition

In September 2012, U.S. President Barack Obama ordered Ralls Corporation (“Ralls”) to divest certain wind farm projects it had acquired in March 2012 that were located near a U.S. Navy installation in Oregon (see Client Alert October 2012 U.S. President orders Chinese acquisition unwound). Ralls is owned by two Chinese nationals who are principals of the Sany Group (“Sany”), a Chinese company that manufactures wind turbines. Earlier this month, the District Court for the District of Columbia dismissed a challenge to that order making clear the limited scope of judicial review applicable to such Presidential actions, and warning of the regulatory risks that foreign investors incur when making investments in the United States.  Continue...

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