Miami-based Eller & Co., which filed lawsuits to block a deal that would shift the United States and British port operations of UK-based Peninsular and Oriental Steam and Navigation Co. (P&O) to United Arab Emirates (UAE)-based Dubai Ports World, has been granted the right to take its case to appeals court, the Associated Press reports via FOXNews.com.
The development means that the deal has been put on hold until the appeals court decides whether or not to hear Eller’s case, according to the AP.
London’s High Court ruled against Eller on Thursday, clearing the way for the deal to be sealed. Read Dubai Deal OK’d by London High Court for more information. However, that ruling is not official until the appeals court either refuses to hear the case or it also rules against Eller.
The British Court of Appeals will hear Eller’s petition for an appeal on Monday, according to the AP, and it will commence another hearing immediately if it decides the petition is valid.
“We don’t take the decision to appeal lightly,” Eller said in a statement. “However, we are deeply concerned for the future of our business and the livelihood of thousands of our staff and contractors and we will do everything in our power to secure their future.”
Eller, which has a venture agreement with a P&O subsidiary, says the deal will violate that agreement and negatively impact its business.
For related content, check out Dubai, or Not Dubai, Selling U.S. Ports to Dubai: Bad Security of Just Bad Politics and Customs Rattles the Supply Chain.
For more news coverage, read Coast Guard Concerns Stir Up Ports Debate and U.S. Accepts 45-Day Review of Dubai Deal.
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