US court accepts Sany lawsuit against Obama
March 3, 2013, Sunday
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Print Edition
Print Edition
China's Sany Group Co, Ltd. said yesterday that its core request in the lawsuit against US President Barack Obama has been accepted.
The Chinese company's US-based subsidiary Ralls Corp last year filed a complaint against Obama and the Committee on Foreign Investment in the United States (CFIUS) for blocking its ownership of four wind farms in Oregon.
The core request, which maintains that the president deprived Ralls of its legal property without executing legal procedures, was accepted by the US District Court in Washington, under a preliminary ruling on February 22, said Wu Jialiang, CEO of Ralls.
Wu said the Sany case provides a model for other Chinese investors to protect their legitimate rights.
Xiang Wenbo, president of Sany Heavy Industry Co, said the case will have a "positive influence" on Sany's future overseas mergers and acquisitions.
Both sides are due to submit more documentation to defend their claims.
The Chinese company's US-based subsidiary Ralls Corp last year filed a complaint against Obama and the Committee on Foreign Investment in the United States (CFIUS) for blocking its ownership of four wind farms in Oregon.
The core request, which maintains that the president deprived Ralls of its legal property without executing legal procedures, was accepted by the US District Court in Washington, under a preliminary ruling on February 22, said Wu Jialiang, CEO of Ralls.
Wu said the Sany case provides a model for other Chinese investors to protect their legitimate rights.
Xiang Wenbo, president of Sany Heavy Industry Co, said the case will have a "positive influence" on Sany's future overseas mergers and acquisitions.
Both sides are due to submit more documentation to defend their claims.
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