2015
Dayyani v. Korea Mohammad Reza Dayyani and others v. Republic of Korea (PCA Case No. 2015-38)
Korea, Republic of
Iran, Islamic Republic of
Agreement for the acquisition of a majority stake in Daewoo Electronics and 10 per cent down payment of the price.
Claims arising out of Korea Asset Management Corporation’s termination of an agreement for the sale of a majority stake in Daewoo Electronics to the claimants’ company Entekhab and alleged non-return of the claimants’ US$50 million deposit.
Secondary: C - Manufacturing
27 - Manufacture of electrical equipment
UNCITRAL
PCA (Permanent Court of Arbitration)
Paulsson, J. (replaced)
Hanotiau, B.
Pinsolle, P.
Griffith, G.
Decided in favour of investor
Award dated 6 June 2018
93500.00 mln KRW (86.80 mln USD)
57000.00 mln KRW (53.20 mln USD)
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Fair and equitable treatment/Minimum standard of treatment, including denial of justice claims
Judicial review by national courts
Judicial review by national courts
Pending
None
http://www.iareporter.com/articles/analysis-existence-of-investment-attribution-and-proportionality-likely-to-feature-in-iranian-claimants-newly-filed-arbitration-against-korea/ (requires subscription)
http://www.iareporter.com/Korea+round-up%3A+Lone+Star+case+reaches+hearings%2C+as+at+least+two+other+investment+treaty+claims+loomarticles/23170/ (requires subscription)
http://globalarbitrationreview.com/news/article/34159/iranian-investors-sue-south-korea/ http://www.derainsgharavi.com/lawyers/hamid-gharavi/ (requires subscription)
http://koreatimes.co.kr/www/news/biz/2015/11/488_187345.html
http://www.derainsgharavi.com/lawyers/hamid-gharavi/
https://www.iareporter.com/articles/asia-round-up-china-and-vietnam-face-new-bit-claims-as-proceedings-against-korea-and-indonesia-move-forward/ (requires subscription)
https://www.iareporter.com/articles/korea-round-up-an-update-on-six-investment-treaty-disputes-against-south-korea/ (requires subscription)
http://www.derainsgharavi.com/2018/06/derains-gharavi-secures-a-us-68-million-award-against-the-republic-of-korea/
https://globalarbitrationreview.com/article/1171539/south-korea-applies-to-set-aside-award-over-terminated-daewoo-sale (requires subscription)
https://globalarbitrationreview.com/article/1170390/bruising-loss-for-south-korea-at-hands-of-iranian-investors (requires subscription)
https://www.iareporter.com/articles/uncitral-tribunal-orders-korea-to-pay-68-million-to-iranian-investor-for-bit-breach/ (requires subscription)
https://www.fsc.go.kr/info/ntc_news_view.jsp?bbsid=BBS0030&page=2&sch1=&sword=&r_url=&menu=7210100&no=32566
http://www.koreatimes.co.kr/www/nation/2018/06/367_250330.html
https://www.iareporter.com/articles/details-of-iranians-arbitral-victory-over-korea-come-into-view-with-arbitrators-seeing-bit-breach-after-investment-deposit-not-returned-but-disagreeing-whether-any-compensation-was-warranted/ (requires subscription)