Ports Deal Prompts Lawsuit
POSTED: 7:26 pm EST February 18, 2006
UPDATED: 10:44 pm EST February 18, 2006
WASHINGTON -- A Miami company is suing to stop an Arab firm from taking over shipping operations at the Port of Miami.
It's the first American courtroom effort to block a $6.8 billion deal between a British company and a state-owned firm in the United Arab Emirates.
The sale is already embroiled in a national debate over security risks at the six major U.S. ports affected.
The Miami company is presently a business partner with London-based Peninsular and Oriental Steam Navigation Company, which Dubai Ports World purchased last week.
Continental Stevedoring and Terminals said that under the sale it will become an "involuntary partner" with Dubai's government.
Continental said the sale is prohibited under its partnership agreement with the British firm and "may endanger the national security of the United States."
http://www.nbc4i.com/politics/7200817/detail.html