Company: BBU
Filing Date: 2025-04-10
Form Type: 20-F
Source: 0001628280-25-017216
Chunk: 64

Company: Brookfield Business Partners L.P.
Filing Date: 2025-04-10
Form: 20-F
Item: Item 3
Chunk 64
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 significant number of our unitholders will reside in countries where the U. S. dollar is not the functional currency. We intend to declare our distributions in U. S. dollars, but unitholders may, at their option, elect settlement in Canadian dollars. For unitholders who so elect, the value received in Canadian dollars from the distribution will be determined based on the exchange rate between the U. S. dollar and the Canadian dollar at the time of payment. As such, if the U. S. dollar depreciates significantly against the Canadian dollar, the value received by a unitholder who elects to receive our distributions in Canadian dollars will be adversely affected.

The Amended and Restated Limited Partnership Agreement of the partnership provides that the federal district courts of the United States are the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the U. S. Securities Act. This choice of forum provision could limit our unitholders’ ability to obtain a favorable judicial forum for disputes with directors, officers or employees.

Our limited partnership agreement provides that, unless our company consents in writing to the selection of an alternative forum, the federal district courts of the United States shall, to the fullest extent permitted by law, be the sole and exclusive forum for the resolution of any complaint asserting a cause of action arising under the U. S. Securities Act of 1933, as amended, or the U. S. Securities Act. In the absence of these provisions, under the U. S. Securities Act, U. S. federal and state courts have been found to have concurrent jurisdiction over suits brought to enforce duties or liabilities created by the U. S. Securities Act. This choice of forum provision will not apply to suits brought to enforce duties or liabilities created by the Exchange Act, which already provides that such federal district courts have exclusive jurisdictions over such suits. Additionally, investors cannot waive company’s compliance with federal securities laws of the United States and the rules and regulations thereunder.

The choice of forum provision contained in our limited partnership agreement may limit a unitholder’s ability to bring a claim in a judicial forum that it finds favorable for disputes with our partnership or its directors, officers or other employees,

  46      Brookfield Business Partners  

which may discourage such lawsuits against our partnership and its directors, officers and other employees. However, the enforceability of similar choice of forum provisions in other companies’ governing documents has been challenged in recent legal proceedings, and it is possible that a court in the relevant