Claimants Mason Capital L.P. and Mason Management LLC allege that the Republic of Korea’s conduct in connection with a 2015 merger between Samsung C&T Corp. and Cheil Industries Inc. breached the Article 11.5 minimum standard of treatment (MST) provision with respect to the fair and equitable treatment and full protection and security obligations, as well as the Article 11.3 national treatment (NT) provision. The arbitration is proceeding under the 1976 UNCITRAL Rules and is administered by the Permanent Court of Arbitration.
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