Mason Capital L.P. and Mason Management LLC v. Republic of Korea (PCA Case No. 2018-55)

Moving food packaging in printer in print factory

CRA’s Tiago Duarte-Silva was retained to testify on behalf of Mason Capital Management, a privately-owned hedge fund sponsor, in a PCA arbitration against the Republic of Korea. CRA assessed losses to the claimant’s investment in Samsung C&T pursuant to its high-profile merger with Cheil Industries revealed to have been tampered with by South Korean officials. In reports to the tribunal, CRA opined on the fair market value of the claimant’s investment based on sum-of-the-parts valuations of the merging conglomerates. Additionally, CRA performed market efficiency tests and event study analyses in support of the damages claimed, which totaled over $200 million.