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South Korea's government won a tax refund lawsuit against hedge fund Lone Star Funds, involving $127 million.
The South Korean government and Seoul have won a tax refund lawsuit against U.S. private equity firm Lone Star Funds, involving 168.2 billion Korean Won (approximately $127 million). The Seoul High Court dismissed Lone Star's claims in a retrial mandated by the Supreme Court. The case involved nine affiliated entities, including Lone Star Funds, seeking a refund of taxes paid on their investments in South Korea. This ruling overturns previous lower court decisions that had ordered the central government to issue refunds.
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