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Arbitration highlights: investment-treaty state measures and attribution, Beth Din award finality under the 1996 Act, service on sanctioned parties, arbitrator independence, court-ordered interim relief, and institutional trends

Published on: 26 February 2026

Published by a LexisNexis Arbitration expert
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Arbitration in England and Wales

Court partially sets aside arbitration award, holding NPS not a State organ but Presidential instructions constituted Treaty ‘measures’

The Commercial Court heard a challenge brought by the Republic of Korea under section 67 of the Arbitration Act 1996 seeking to set aside a final award dated 20 June 2023. In the arbitration, Elliott Associates, LP (EALP) had succeeded on its case that Korea breached the USA–Korea Free Trade Agreement (the Treaty) arising from the 2015 merger between Samsung C&T and Cheil Industries. The central issue was whether Article 11.1(3)’s jurisdictional criterion was fulfilled—namely, whether the dispute concerned ‘measures adopted or maintained by a Party relating to’ EALP’s investment. The court concluded that the National Pension Service (NPS) was not a de jure or de facto organ of the State, given its distinct legal personality under Korean law and its significant operational independence...

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