South Korea’s Justice Ministry said on October 1 that a remand tribunal ordered South Korea to pay Elliott, a US hedge fund, about US$48.49 million plus interest. The tribunal found the government’s involvement in the 2015 merger of Samsung C&T and Cheil Industries was causally linked to Elliott’s losses.

The ministry said the tribunal upheld the same damages award as the original arbitration.

The ruling follows English court proceedings that reviewed the dispute. South Korea also later won a court order setting aside an earlier award. The move sent the case back to the tribunal, showing the legal fight continued beyond the initial arbitration.

🔗 Source: Reuters