Chinese Co. Wants Wind Farm Deal Voided After Obama Block

Law360, New York (January 29, 2013, 4:18 PM EST) -- Chinese-owned company Ralls Corp. on Monday asked a Washington federal judge to void its agreement to purchase four Oregon wind farm projects from Terna Energy USA Holding Corp., after President Barack Obama blocked the deal on national security grounds.

According to Ralls’ complaint, while it disagreed with Obama’s decision to prohibit the deal, that decision still means that its purchase deal with Terna is no longer enforceable — thus, Ralls doesn’t owe Terna any more money, and is also entitled to the return of all money...
To view the full article, register now.