{
  "id": 15999665,
  "title": "Court rules against Lone Star in $125.9 mil. tax case",
  "url": "https://urgent.news/2026/10/22/court-rules-against-lone-star-in-125-9-mil-tax-case-15999665",
  "topic": "world",
  "section": "World",
  "published": "2026-10-22T04:52:03.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/business/20261022/court-rules-against-lone-star-in-1259-mil-tax-case"
  },
  "original_language": "en",
  "account": "An appeals court decided against private equity firm Lone Star Funds in a tax dispute with the Korean and Seoul city governments, resulting in a loss of $125.9 million in taxes. The ruling came after the Supreme Court sent the case back to the appeals court for further review in April 2022. The Texas-based firm had initiated legal action against the state and municipality, demanding the return of withheld taxes linked to profits from its investments in Korea. Lone Star and its affiliates acquired significant stakes in Korea Exchange Bank, Kukdong Engineering Construction, and Starlease between 2002 and 2005, securing substantial profits from the sale of shares in 2007. They claimed lower taxes than comparable local companies due to a tax treaty between Korea and Belgium, where the investing company was based. The National Tax Service (NTS) imposed extra corporate taxes on Lone Star and its subsidiaries, which were then offset by the withheld taxes. Lone Star subsequently filed a lawsuit seeking the cancellation of these additional taxes.",
  "summary": "An appeals court on Thursday ruled against U.S. private equity firm Lone Star Funds in its suit against the Korean and Seoul city governments to return a combined 168.2 billion won ($125.9 million) in taxes. The Seoul High Court handed down the ruling against Lone Star after the Supreme Court returned the case to the appeals court for review in April last year. The Texas-based firm had earlier…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 8,
    "also_reported_by": [
      {
        "outlet": "The Indian Express",
        "title": "‘No permit’: Calcutta High Court bins CPI(M) plea against removal of Durga Puja bookstall",
        "url": "https://urgent.news/2026/10/21/no-permit-calcutta-high-court-bins-cpi-m-plea-against-removal-of",
        "published": "2026-10-21T09:34:21.000Z"
      },
      {
        "outlet": "Malay Mail",
        "title": "Sacked Negeri Sembilan exco members’ case: Federal Court case management on Oct 23, High Court to hear intervention bid on Nov 2",
        "url": "https://urgent.news/2026/10/22/sacked-negeri-sembilan-exco-members-case-federal-court-case",
        "published": "2026-10-22T01:46:11.000Z"
      },
      {
        "outlet": "Hindustan Times",
        "title": "Will US national VanDyke return to India? Court to hear case linked to Myanmar drone warfare on Friday",
        "url": "https://urgent.news/2026/10/22/will-us-national-vandyke-return-to-india-court-to-hear-case-linked-to",
        "published": "2026-10-22T02:02:08.000Z"
      },
      {
        "outlet": "Yonhap News",
        "title": "Court rules against Lone Star in 168 bln-won tax case",
        "url": "https://urgent.news/2026/10/22/court-rules-against-lone-star-in-168-bln-won-tax-case",
        "published": "2026-10-22T03:23:36.000Z"
      },
      {
        "outlet": "Dawn",
        "title": "Islamabad High Court seeks evidence against NAB officials’ appointments",
        "url": "https://urgent.news/2026/10/22/islamabad-high-court-seeks-evidence-against-nab-officials-appointments",
        "published": "2026-10-22T03:29:04.000Z"
      },
      {
        "outlet": "The Korea Times",
        "title": "Court rules against Lone Star in $125.9-mil. tax case",
        "url": "https://urgent.news/2026/10/22/court-rules-against-lone-star-in-125-9-mil-tax-case",
        "published": "2026-10-22T04:17:03.000Z"
      },
      {
        "outlet": "The Vibes",
        "title": "Police await AGC’s directions on Negeri Sembilan MB’s forced-signature claim",
        "url": "https://urgent.news/2026/10/22/police-await-agcs-directions-on-negeri-sembilan-mbs-forced-signature",
        "published": "2026-10-22T05:35:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}