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US District Court of the Northern District of California orders immediate re-start of EB-5 regional center program; enjoins USCIS from deauthorization of EB-5 regional centers, enabling Behring to accept new EB-5 investors
BLACKHAWK, Calif., June 25, 2022 /PRNewswire/ — Behring Co., a vertically integrated real estate developer and the operator of Behring Regional Center (“BRC”), praised the US District Court of the Northern District of California’s decision to issue a preliminary injunction, setting aside the deauthorization of EB-5 regional centers by US Citizenship and Immigration Services (“USCIS”). Today’s decision by US District Judge Vince Chhabria held that USCIS almost certainly committed legal error when it unilaterally deauthorized designated EB-5 regional centers existing at the time that the EB-5 Reform and Integrity Act of 2022 (“RIA”) was enacted into law and required regional centers to apply and receive approval for new designation before allowing them to operate and accept new EB-5 investors. Read the decision here.
Full story available on Benzinga.com
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