LSF-KEB Holdings SCA and others v. Republic of Korea (ICSID Case No. ARB/12/37)
Our attorneys are defending the Respondent against its first ever investment treaty arbitration claim (after previously representing Korea in its only other ICSID arbitration, arising out of a concession contract). Korea faces claims of approximately US$4.4 billion. The claims, asserted pursuant to the bilateral investment treaty between Belgium/Luxembourg and Korea, involve allegations of regulatory delays by Korean banking authorities in connection with Lone Star's attempt to sell its interest in Korea Exchange Bank, as well as allegedly wrongful treatment by Korean tax authorities.