Access The Usa., Llc v. State Of Washington

FILED ZOLIP.1 OF APPEALS DWI STATE OF WASHINGTON 2018 APR -9 (H 9: 23 IN THE COURT OF APPEALS OF THE STATE OF WASHINGTON DIVISION ONE ACCESS THE USA, LLC, a Washington ) No. 75747-4-1 limited liability company, 520 BRIDGE ) REPLACEMENT FUND 11, LP, a Washington ) limited partnership, and PREMIER 520 ) BRIDGE REPLACEMENT FUND 11, LP, a ) Washington limited partnership, ) ) Appellants, ) ) V. ) ) THE STATE OF WASHINGTON, a ) government entity; THE OFFICE OF ) THE TREASURER, a government entity ) UNPUBLISHED OPINION and agency of the State of Washington; ) CITIGROUP GLOBAL MARKETS, a New ) FILED: April 9, 2018 York corporation, ) ) Respondents. ) ) VERELLEN, C.J. — Access the USA, LLC formed limited partnerships with foreign investors under the EB-5 Immigrant Investor Program, intending to invest in State-issued bonds to fund construction of the new SR-520 Bridge. Access submitted applications to open accounts with Citigroup Global Markets, the lead underwriter. But on the bond pricing day, Citigroup had not opened accounts for the limited partnerships, who were therefore unable to purchase bonds. Access No.75747-4-1/2 sued Citigroup on theories of violation of the Corisumer Protection Act(CPA),1 breach of contract, promissory estoppel, and negligent misrepresentation. Access also sued the State, alleging tortious interference with business expectancy and negligent misrepresentation. Because Access's alleged claims of deception are limited to its unique private interaction with Citigroup and no hypothetical facts support an impact on the public interest, the trial court properly dismissed its CPA claim under CR 2(b)(6). Because Access fails to establish an enforceable contract, the trial court properly dismissed Access's breach of contract claim on summary judgment. Access offers no facts or reasonable inferences of an actionable promise or reliance. The trial court properly dismissed Access's promissory estoppel claim against Citigroup. Because Access cannot point to a false statement by Citigroup or the State of a presently existing fact, the trial court properly dismissed its claims for negl gent misrepresentation. Access establishes neither an intentional interference nor an improper purpose or means. The trial court properly dismissed Access's claim that the State intentionally interfered with its business expectancy. Therefore, we affirm. 1 Ch. 19.86 RCW. 2 No. 75747-4-1/3 FACTS The EB-52 Immigrant Investor Program (EB-5 Program) allows foreign investors and their families to obtain residency in the United States. The EB-5 Program is administered by the United States Citizenship and Immigration Service (USCIS). Qualifying investments must meet threshold requirements for job creation, term of investment, and risk. The investments are prepared by USCIS-approved regional centers. Access is an approved regional center. Michael Mattox manages Access. He eveloped a municipal bond investment strategy. In this model,foreign investors participate in limited partnerships, which purchase municipal infrastructure bonds. Access served as general partner in these limited partnerships. Together with other requirements, each EB-5 applicant must invest at lest $1,000,000.3 Access forms and manages the limited partnerships that serve as the "funding accounts" for foreign investments. As part of Access's effort to establish ...

Original document
Source: All recent Immigration Decisions In All the U.S. Courts of Appeals