Paul Lackey Outlines How the Pandemic Has Created EB-5 Problems in Texas Lawbook Article
EB-5, also known as the Immigrant Investor Program, was created in 1990 to stimulate the economy through job creation and is an asset for development projects in the United States, boosting the economy and creating jobs. The EB-5 program provides a unique opportunity for foreign citizens to gain permanent residency in the U.S. by investing in U.S. projects that improve the economy and create jobs. The special nature of the EB-5 opportunities also create distinctive risks, and the global pandemic has created a strain on many of these types of projects.
In an article published on November 30 by The Texas Lawbook, Partner Paul Lackey discusses what to keep in mind when an EB-5 project struggles.
"EB-5 lies at the intersection of several different areas of legal expertise," notes Lackey. "Moreover, EB-5 is an area of law that is rapidly evolving. EB-5 participants must constantly reevaluate what has changed and how they approach different issues."
Lackey is a complex commercial trial lawyer and has decades of litigation experience involving EB-5, real estate, financial services, bankruptcy and hospitality-related litigation.
Read the full article here.