Seoul ordered to pay Elliott $53.6m over 2015 Samsung merger ...Middle East

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Seoul ordered to pay Elliott $53.6m over 2015 Samsung merger
SEOUL: South Korea has been ordered to pay hedge fund Elliott $53.6 million in damages over the controversial 2015 merger of two Samsung affiliates, Seoul’s justice ministry said Tuesday.Around seven percent of Elliott’s claim for about $770 million was accepted by the International Centre for Settlement of Investment Disputes, the ministry said in a statement.The arbitration tribunal also ordered the South Korean government to pay the US activist investor delayed interest as well as $28.9 million in legal expenses, the ministry added.Elliott sued the South Korean government in 2018 after losing a proxy fight opposing the merger between Cheil Industries and Samsung C&T.Elliott -- C&T’s secon

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