Last month, the US completed a lengthy process to revise its regulatory mechanism for screening foreign investment on national security grounds - a review process administered by the interagency Committee on Foreign Investment in the US (CFIUS).In 2006, investors around the globe watched in dismay as members of the US Congress condemned the acquisition by Dubai Ports World of Peninsular and Oriental Steam Navigation Company's US ports management business. The transaction, which had been approved by CFIUS, collapsed under the withering criticism of politicians and pundits. The most ominous aspect of this episode was the many calls to fix the CFIUS review process. Given that the CFIUS process enables the President to block controlling foreign investments in US businesses if those investments may impair national security, foreign investors feared that reforming CFIUS could widen its scope and thereby narrow their ability to invest in the US.
January 28, 2009 at 08:08 PM
1 minute read
The original version of this story was published on Legalweek
The acquisition of a US ports management business by a foreign investor led to the revision of the regulatory mechanism for screening foreign investment on national security grounds
Last month, the US completed a lengthy process to revise its regulatory mechanism for screening foreign investment on national security grounds – a review process administered by the interagency Committee on Foreign Investment in the US (CFIUS).
Presented by BigVoodoo
Celebrating achievement, excellence, and innovation in the legal profession in the UK.
Legalweek New York explores Business and Regulatory Trends, Technology and Talent drivers impacting law firms.
Women, Influence & Power in Law Awards honors women lawyers who have made a remarkable difference in the legal profession.
A prominent AV-rated Education Law firm seeks an associate with 5+ years experience. The role will primarily involve advice and counsel in ...
Associate attorney position at NJ Immigration Law firm: Leschak & Associates, LLC, based in Freehold, NJ, is looking for a full time ass...
Javerbaum Wurgaft, a large civil litigation firm with nine (9) offices, seeks: Plaintiff Personal Injury Attorney for Northern New Jersey of...
