2023-07-18 09:36
Korea appeals to nullify ruling to compensate Elliott over Samsung merger
Justice Minister Han Dong-hoon speaks during a press conference in the Government Complex Seoul on Tuesday. (Yonhap)South Korea's Justice Ministry said Tuesday it has filed an lawsuit in England to block a June ruling in an international arbitration court that ordered Seoul to pay $107.8 million in damages and legal costs to US hedge fund giant Elliott Investment Management.The Justice Ministry claimed that the National Pension Service, a public pension scheme that was at odds with Elliott over the controversial merger in 2015 of two key Samsung Group affiliates -- Samsung C&T and Cheil Industries -- cannot be deemed a "state organ" and instead should be seen as one making independent investment decisions.
https://n.news.naver.com/mnews/article/044/0000248290?sid=104
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https://n.news.naver.com/mnews/article/044/0000248290?sid=104
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