Hyundai Heavy Wins $750M, Right To Buy IPIC Stake

By Hilary Russ

Law360, New York (November 17, 2009, 7:57 PM ET) -- Hyundai Heavy Industries Co. Ltd. has won at least $750 million in an arbitration award against the International Petroleum Investment Corp., an oil investment fund of Abu Dhabi's government that allegedly breached a shareholder agreement with HHI.

An arbitration tribunal, acting under the rules of the International Chamber of Commerce's International Court of Arbitration, issued the award, according to Debevoise & Plimpton LLP, co-counsel for HHI.

HHI had accused IPIC affiliates of breaching a shareholder agreement over IPIC’s stake in Hyundai Oilbank Corp., Korea's fourth-biggest oil...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles