Lone Star, Which Made Money in Korea, Loses Remand Trial in '168.2 Billion Won Tax Return Lawsuit'
6 Articles
6 Articles
"Lone Star has no right to claim refunds of withholding taxes." In accordance with the Supreme Court ruling, the U.S. private equity fund Lone Star lost the remand trial in its lawsuit seeking a tax refund of approximately 160 billion won against the government and the Seoul Metropolitan Government. Seoul High Court Civil Division 16-1 (Jeong Jae-oh, Kim Seon-hee, Lee Won-seok
조선일보
The court ruled against Lone Star in the remand trial regarding a tax refund lawsuit worth 168.2 billion won filed by the U.S. private equity fund. The Supreme Court overturned the lower court's decision, citing the legal principle that the right to claim a refund of withheld taxes lies with the financial company, not Lone Star; consequently, Lone Star's claim was finally dismissed.
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Lone Star, an American private equity fund, lost the remand trial in a lawsuit seeking a tax refund of approximately 160 billion won against the Korean government and the Seoul Metropolitan Government. Unlike the first and second trials, which had ruled in favor of Lone Star, the court determined that there is no need to return the taxes, in accordance with the Supreme Court's remand order. On the 22nd, the Seoul High Court Civil Division 16-1 …
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