Judge Hals Sale of Assets in Chinese Firm’s Wind Deal
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A Chinese-owned company barred by the Obama administration from developing an Oregon wind farm won a temporary court order blocking the sale of collateral it pledged to buy assets for the project.
The order by U.S. District Judge P. Kevin Castel in New York prevents Terna Energy USA Holding Corp. from going ahead with a Feb. 7 sale of collateral owned by Ralls Corp. “and pledged in security agreements related to a commercial transaction that has been declared prohibited and illegal by an order of President Barack Obama.”