Welcome
Bankruptcy Law News

OneWeb Global Bankruptcy Sale Could Require CFIUS, FCC Review

June 25, 2020, 9:42 PM

Federal regulators could review any proposed transaction by bankrupt satellite operator OneWeb Global Ltd. if it raises national security concerns, the Justice Department said in a court filing.

Federal law authorizes the President, acting through the Committee on Foreign Investment in the United States, “to review any merger, acquisition, or takeover ‘by or with a foreign person that could result in foreign control of any United States business,’” according to a filing by Audrey Strauss, the Acting U.S. Attorney for the Southern District of New York in the district’s bankruptcy court.

OneWeb’s deal, if any, may be subject to review...

To read the full article log in. To learn more about a subscription click here.