Lone Star starts arbitration proceedings against Korean government
Lone Star Funds has initiated arbitration of its claim for damages suffered as a result of alleged unlawful intervention by the Korean government with the private equity firm’s rights as a major shareholder in Korea Exchange Bank (KEB) and other companies acquired in the early 2000s.
Lone Star provided formal notice of its claims - specifically, a failure to comply with obligation codified in an investment treaty between South Korea and Belgium and Luxembourg - to the government in...
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