2nd Circ. OKs Awards For Soured South Korean Satellite Deal

Law360 (September 12, 2019, 8:41 PM EDT) -- The Second Circuit on Thursday confirmed two arbitral awards issued to a Bermuda-based satellite operator in a dispute stemming from a politically fraught transaction with a South Korean satellite communications provider, saying the arbitrators did not exceed their authority or disregard the law.

The circuit court in a summary order rejected arguments from KT Corp. and KTSAT Corp. that a lower court had wrongly confirmed the awards, which were issued in favor of Asia Broadcast Satellite Global Ltd. and Asia Broadcast Satellite Holdings Ltd., referred to collectively as ABS in the suit.

The International Chamber of Commerce tribunal had concluded in...

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