South Korea Ordered to Pay Elliott $48.4 Million Over Samsung C&T Merger
MT Newswires Live
38 mins ago
An international arbitration tribunal has ordered South Korea to compensate Elliott $48.5 million plus accrued interest in their ongoing Investor-State Dispute Settlement (ISDS) remand case, the Ministry of Justice announced Thursday.
The remand tribunal determined there was a causal relationship between the government's intervention in the 2015 merger of Samsung C&T (KRX:028260) and Cheil Industries and the financial damages suffered by Elliott.
The tribunal ordered the government to pay the same amount as in the original arbitration.
The government said it will thoroughly analyze the ruling together with relevant ministries, government law firms, and external experts.
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