South Korea Ordered to Pay Elliott Millions
South Korea must pay Elliott Investment Management about 48 million dollars following an arbitration ruling over the 2015 Samsung merger. The tribunal found government intervention caused losses for the US fund. Elliott urged the country to comply.
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South Korea was ordered by a London tribunal to pay Elliott Investment Management $48.49 million plus interest over state interference in the 2015 merger of SAMSUNG C&T CORP and Cheil Industries. The ruling follows legal challenges brought by the United States fund over losses stemming from the disputed corporate consolidation. Total relief reaches approximately $113 million when factoring in accrued interest, legal fees, and previous costs.
