South Korea applies to set aside award over terminated Daewoo sale
Seoul Square including the headquarters of the now defunct Daewoo Group
South Korea has applied to the English Commercial Court to set aside a US$68 million award in favour of the family behind an Iranian consumer electronics group, arguing that the tribunal lacked substantive jurisdiction when it ruled that the termination of a deal for the sale of the bankrupt Daewoo Electronics was unfair and inequitable.
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