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South Korea drops challenge against Elliott hedge fund award
South Korea will not pursue a further legal challenge against an arbitration award in favour of Elliott Associates, according to Global Arbitration Review, bringing a long-running dispute over the 2015 Samsung C&T merger closer to a conclusion. The dispute centres on Elliott’s opposition to the merger between Samsung C&T and Cheil Industries, which the US hedge fund argued was influenced by government interference that damaged its investment. The case subsequently resulted in an international arbitration award against South Korea. The government’s decision to abandon further challenges marks a
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