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Another US Hedge Fund Firm Files ISD Suit Against S. Korean Gov't

Written: 2018-09-18 14:32:05Updated: 2018-09-18 15:14:36

Another US Hedge Fund Firm Files ISD Suit Against S. Korean Gov't

Photo : YONHAP News

U.S. hedge fund company Mason Capital Management has filed an investor-state dispute(ISD) lawsuit against the South Korean government, seeking compensation for its losses from a merger of two Samsung units.

According to the Justice Ministry on Tuesday, the New York-based firm filed a notice of arbitration, claiming it suffered losses of at least 200 million dollars, or 220 billion won, from the 2015 merger of Samsung C&T and Cheil Industries because the Korean government unjustly intervened at the time. 

That figure is larger than the minimum 175 million dollars that was mentioned in a notice of intent seeking arbitration submitted to Seoul by Mason Capital in June.  

In April, another U.S. hedge fund, Elliott Management, demanded compensation of 700 billion won from South Korea over the same 2015 merger deal.

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