Court green-lights Sany's lawsuit against Obama
Updated: 2013-03-02 20:51
BEIJING - China's Sany Group Co., Ltd. said Saturday 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 owning of four wind farms in Oregon.
The core request, which maintains that the president's order deprived Ralls of its legal property without executing legal procedures, was accepted by the US District Court in Washington according to a preliminary ruling issued on Feb 22, said Wu Jialiang, CEO of Ralls Corp. during a news briefing.
Wu said the Sany case provides a model for other Chinese investors to protect their legitimate rights via legal weapons when facing similar resistance from the CFIUS.
Xiang Wenbo, president of Sany Heavy Industry Co., said the case will have a "positive influence" on Sany's future overseas mergers and acquisitions.
The case is subject to further trial after both sides submit more documentation to defend their claims.