China’s Sany Group says its main request in the lawsuit against US President Barack Obama and the Committee on Foreign Investment in the US has been accepted by a US court.
The CEO of Sany's US subsidiary, Rall, says the US District Court in Washington accepted the company’s core request on February the 22nd. It mainly complains the president’s order has deprived Rall’s legal property without executing proper legal procedures. The acceptance indicates the case has entered the legal process, and is subject to further trial after both sides submit more documentation to defend their claims.
Sany says the case could provide some experience for other Chinese companies to protect their investments in the US, and urges the CFIUS to deal with foreign investors more fairly and transparently.