S. Korea ordered to pay nearly $50 mil. to Elliott over Samsung merger case
South Korea has been ordered to pay nearly $50 million in compensation to U.S. hedge fund Elliott Investment Management over the 2015 merger of two Samsung affiliates, the justice ministry said Thursday. An international tribunal ordered the South Korean government Wednesday to pay $48.49 million in damages to Elliott over a dispute stemming from the controversial merger, according to the…
South Korea has been ordered to pay nearly $50 million in compensation to U.S. hedge fund Elliott Investment Management over the 2015 merger of two Samsung affiliates, according to the justice ministry. The international tribunal recognized a causal relationship between Seoul's intervention for the approval of the merger of Samsung C&T Corp. and Cheil Industries Co. and losses to Elliott.
Elliott welcomed the decision, noting the tribunal granted about $113 million, including damages, interest, and other costs. The case was filed in 2018 seeking compensation of $770 million over losses.
Brief written by urgent.news from The Korea Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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