U.S. private equity Lone Star Funds loses US$ 114 mil. tax refund battle in Korea

정부, '론스타 1,600억대 세금 반환소송' 파기환송심 승소 U.S. private equity firm Lone Star Funds has lost its tax refund fight with the Korean government. The Seoul High Court ruled that the firm has no right to claim the money. Kim Suh-young has the details. The Seoul High Court on Thursday dismissed U.S. private equity giant Lone Star Funds' lawsuit seeking a refund of 168.2 billion Korean won, roughly 114 million U.S. dollars in taxes. It rejected all claims against the South Korean government, the Seoul Metropolitan Government and Gangnam District, and ordered the plaintiffs to cover all legal costs. Lone Star Funds began investing in the Korea Exchange Bank (Source: Arirang News | Region: Tehran, Iran)