Lone Star’s 280 billion won in payment is inadequate and disappointing

“I am delighted that the allegation that South Korea has violated countrywide and international regulations has been identified.”

Lone Star, a international non-public fairness fund, said on the 31st that it was “upset” by the jury’s final decision of the International Financial investment Dispute Settlement Center (ICSID) to shell out $ 216.5 million (approximately 280 billion won) by way of payment relating to the sale of KEB.

Lone Star responded to an emailed concern from Yonhap News, asking for a situation on the judgment of the Worldwide Financial investment Dispute (ISDS) scenario on the similar day.

In a assertion on behalf of a spokesperson, Lone Star mentioned: “The compensation for the unfair tactics of the Korean federal government, the risks Lone Star took when rescuing KEB in 2003 and the included price Lone Star provides to all KEB shareholders and al The Korean banking method is not enough, “he explained.

Having said that, he included: “I am delighted on behalf of the traders that the court docket justified our principal claim,” he included.

He did not specify whether or not the conclusion reversal technique would be carried out.

Lone Star previously submitted an intercontinental arbitration with the Globe Bank ICSID in November 2012, alleging that the Korean federal government had unfairly intervened in the KEB sale system, resulting in a loss of $ 4.679.5 billion (around 6.1 trillion won).

The a few-member arbitral tribunal ordered the federal government to pay back $ 216.5 million (about 280 billion gained, centered on the 1,300 gained exchange rate) to the Korean governing administration on the initial working day in 10 a long time.

This equates to 4.6% of the damages claimed by Lone Star.

In this regard, Justice Minister Han Dong-hoon said: “The truth that the minority impression has acknowledged our place as it is and has not acknowledged the responsibility of the government at all, is worth fighting to the conclusion. within the technique.

We will do our finest to guarantee that not a single cent of the Korean national tax is leaked like blood, “he explained.

/ yunhap information

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