MIRROR LAKE VILLAGE, LLC, Yanxue DENG of Beijing and other 6 Chinese Investors filed lawsuit in DC against the USCIS on September 30, 2016. The lawsuit asks the court to approve their I-526 petitions which were denied and motion to reopen/reconsider also denied.
The only issue in this case is if the clause in the subscription agreement and operating agreement that gives the Chinese investors the right to ask the company to repurchase their interest back IF the company has money to do so after their application to remove their condition are approved by the USCIS. The USCIS claims such provision constitute a guarantee of the return of the investment and therefore the investment is not at risk.
These Chinese investors made their investment in March-June of 2014. Their I-526 were filed in October-November of 2014(unusual that I-526 filed 4-6 months after investment was made).
Regardless of the final result of this litigation, the lessen we can learn from this case is that regional center and the project manager should never put untested or risky clauses in EB5 documents that may jeopardize the chance of a smooth I-526 adjudication.