South Korea has been ordered by the International Centre for Settlement of Investment Disputes to compensate hedge fund Elliott approximately $108.5 million concerning the 2015 merger of two Samsung subsidiaries.
An international tribunal has accepted the South Korean government’s request and reduced the damages it has to pay to the U.S. private equity firm Lone Star Funds by about US$450 million, the justice ministry said
Un tribunal arbitral a condamné la Corée du Sud sur un volet du dossier l’opposant au fonds d’investissement Lone Star mais a confirmé que le montage fiscal réalisé par le fonds américain avait pour unique objectif d’échapper à l’imposition.
Should the claims be accepted, the amount the South Korean government has to pay to Lone Star would be reduced to a little over 216 million U.S. dollars.
South Korea has spent nearly 68.5 billion won ($48.1 million) in total to fight and settle investor-state dispute settlements since 2013,#including its battle with US-based private equity firm Lone Star, data showed.
The South Korean government is found to have spent nearly $40 million in litigation expenses for its decade-long legal dispute against US private equity firm Lone Star Funds.
Le ministère de la Justice coréen a exprimé sa volonté de demander une annulation de la décision du CIRDI condamnant la Corée du Sud à verser 216,5 millions de dollars à la société de capitale-investissement américaine Lone Star Fund.
South Korea plans to seek annulment of an international tribunal’s verdict to compensate Lone Star Funds in a decade long investor-to-state dispute arbitration.