Chinese-Owned Ralls Corp. Says US Blocked Wind Farm Deal

Law360, New York (September 13, 2012, 5:52 PM EDT) -- Ralls Corp., a U.S.-based company owned by two Chinese nationals, sued the U.S. Treasury's Committee on Foreign Investment in the U.S. on Wednesday for halting its acquisition of four Oregon wind farm companies for national security reasons, saying the committee overstepped its bounds.

Ralls, which is owned by two Chinese manufacturing magnates, purchased the wind farm companies in March from a subsidiary of Delaware-based Terna Energy USA Holding Corp. In connection with the deal, Ralls voluntarily submitted a notice to the CFIUS, which is tasked with...
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