Karalyn Mildorf is a partner in White & Case’s Global International Trade and Global Mergers & Acquisitions Practices, based in Washington, and is a member of the Firm’s Foreign Direct Investment (FDI) Reviews & National Security and CFIUS (Committee on Foreign Investment in the United States) practice. She has more than 15 years of specialized experience advising clients on national security reviews before CFIUS and foreign ownership, control or influence (FOCI) mitigation matters. She has advised clients on CFIUS issues in thousands of transactions covering a wide variety of industries and investor countries, and has extensive experience with national security requirements in connection with complex transactions. Chambers USA and Chambers Global have consistently recognized Karalyn as a leading CFIUS expert. In 2021, Chambers USA stated, "Karalyn Mildorf represents clients in the full spectrum of CFIUS matters … ’She is very experienced and knowledgeable of all the CFIUS rules.’ ’She is adept at explaining the pros and cons of various options.’ ’She is very good to deal with and thinks ahead about the government’s concerns.’" Sources praise her ’can-do attitude and exceptional insights,’ identifying her as a ’highly technical and organized’ attorney." She has also been recognized as a "key lawyer" by Legal 500, an expert in foreign investment reviews by Who’s Who Legal, an "International Trade Rising Star" under 40 by Law360, and has twice been shortlisted as a Corporate Rising Star by the Euromoney Americas Women in Business Law Awards. Karalyn advises clients on all matters pertaining to CFIUS reviews, including navigating clients through CFIUS inquiries regarding non-notified transactions, conducting detailed due diligence and assessing potential national security issues in connection with transactions, advising regarding jurisdictional and transaction structuring matters, developing and implementing CFIUS strategies, negotiating CFIUS-related deal terms, representing clients in all stages of the CFIUS filing and review process, engaging with relevant government officials, and negotiating and advising regarding implementation of, and compliance with, CFIUS mitigation agreements. Karalyn also has extensive experience representing clients in a myriad of FOCI mitigation matters. She has negotiated, prepared, and advised regarding compliance with, and implementation of, numerous FOCI mitigation arrangements, including Special Security Agreements, Proxy Agreements, Security Control Agreements and FOCI Board Resolutions. She also represents clients in national security reviews before Team Telecom.
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The Committee on Foreign Investment in the United States (CFIUS) recently issued a new Frequently Asked Question (FAQ) that updates CFIUS’s interpretation of the "completion date" for a transaction, which represents a significant change for transaction parties that have for years relied upon (...)
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On September 15, President Biden signed an Executive Order (the "EO") identifying national security risks that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") must consider when reviewing covered transactions. The EO focuses on five areas: supply chain (...)
