Key Points:
The notice states that the conclusion of the assessment may influence the parties’ ability to consummate the transactions, the timetable of completion, or related terms.
This procedure, which is completely optional but highly advised, can take anywhere between 30 days and more than 12 months, depending on how complex the transaction is.
CFIUS is a crucial part of defending American infrastructure, technology, and intellectual property against the exploitation of parties whose interests conflict with those of the United States. Additionally, both domestic and foreign organizations are included in this.
According to the paper, bankruptcy judges in such cases weigh CFIUS reviews with other possible national security issues when considering a bidder’s eligibility.
Binance.US, the US-based subsidiary of the cryptocurrency exchange, plans to acquire Voyager’s crypto lending platform for $20 million in cash and cryptocurrency assets that will be used to pay back Voyager’s clients.
Binance.US triumphed over rivals, including rossTower, Wave Financial, and INX, by securing a deal with Voyager that would promptly grant its customers access to restricted funds.
In its court brief, CFIUS did not specifically address any security issues brought up by the Voyager transaction, but it did note that bankruptcy courts have occasionally determined that a company’s ability to bid on assets in bankruptcy can be limited by national security considerations.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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