[WSJ] What’s At Stake: South Korea vs Lone Star Funds

Union members of Korea Exchange Bank shout slogans during a rally in front of Financial Services Commission in Seoul, South Korea, Friday, Nov. 18, 2011. The Korean read “Defend, Foreign Exchange Bank.” (AP Photo/Lee Jin-man)

[THE WALL STREET JOURNAL] — An ongoing arbitration case in Washington D.C. between South Korea and Lone Star Funds may be the final chapter of a bitter dispute spanning more than a decade. However, the heat of argument surrounding the dispute has rarely translated into light. Although the parties are engaged in a lawsuit, there has been little discussion concerning the law involved.

For those uninitiated in the world of international arbitration, below is the primer of the issues at play in the South Korea-Lone Star Funds arbitration.

-Who is Lone Star Funds? What was it doing in Korea?
-What happened with Lone Star Funds’ investments in KEB?
-What were the results of those investigations?
-How did these investigations affect Lone Star Funds and KEB?
-What is the tax issue involving Lone Star Funds?
-How did the arbitration begin? How does the arbitration work?
-What are each party’s arguments in the arbitration?

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