X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In a win for the real estate industry, the U.S. District Court of the Northern District of California ruled in favor of the Behring Co., operator of Behring Regional Center, in its request to vacate the EB-5 Modernization Rule implemented by the Department of Homeland Security (DHS) in 2019.

In the ruling, U.S. Magistrate Judge Jacqueline Scott Corley supported Behring’s argument that the DHS officials responsible for enacting the rule, which updated various regulations governing the EB-5 Immigrant Investor Visa Program, had no legal authority to make the changes because they were unlawfully appointed in violation of the Federal Vacancies Reform Act of 1998. The EB-5 program was created by the Immigration Act of 1990 as a method for providing qualified immigrant investors the opportunity to obtain a permanent green card.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.