TOP CORPORATE AT TORNEYS
OSVALDO TORRES
CORPORATE ATTORNEYS
EB5 INVESTORS MAGAZINE
O
svaldo F. Torres, Esq.
graduated from the University
of Pennsylvania Law School in
1987. During his 34-year career,
Torres has helped clients navigate
complex corporate and securities
transactions. For the past 10 years, Torres has been immersed in
the EB-5 space. He regularly represents regional centers,
developers and issuers with offering, loan and redeployment
matters for hotel, multi-family, senior living, franchising and
other projects. Torres frequently speaks at EB-5 conferences on
securities issues. He is a member of the EB-5 SEC Roundtable,
serves on IIUSA’s Leadership, Public Policy and Editorial
Committees, and is rated AV Preeminent by Martindale-Hubbell.
WHAT TRENDS ARE YOU SEEING IN
THE EB-5 INDUSTRY?
With visa backlog impacting mainland Chinese, Vietnamese and
Indian investors, and continued regulatory uncertainty, the
pipeline for new EB-5 business is diminishing. Visa backlog also
contributes to more of our regional center clients having to deal
with investor withdrawals. Issuers are facing increasing pressure
from investors to release them from the projects and return
investor funds. In many cases, it is prudent to allow for voluntary
investor withdrawals, even if they may not have a contractual
right to demand withdrawal. Of course, this may strain already
challenged projects, but it is usually best to be rid of disgruntled
investors.
HOW ARE YOU HANDLING THE ISSUE
OF REDEPLOYMENT?
Redeployment remains a difficult issue that is riddled with
contentions. It is a complex issue. Poor USCIS guidance is not
helpful. The competing interests of projects and investors
further complicates matters. We are currently dealing with
several redeployments. They are each troubled by various
issues, including whether the NCE has sufficient authority to
redeploy. Valuation and the fairness of the redeployment deal
are recurring issues. Clearly, projects must be well-counselled to
navigate the alternatives and potential outcomes. Corporate
clients should understand the business judgement rule and
conform their behavior accordingly to benefit from the
protections of the rule.
Securities counsel to EB-5 issuers
in[email protected] • + 1 (206) 257-2107
EB5INVESTORS.COM
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