Learning from Lone Star: What the company’s second win in Korean court can teach MNCs

December 10 2014

Lone Star emerged as a winner for the second time in a case against the Korean tax authorities in the Seoul district court in late November. The court ruled that the Namdaemun District tax office owes the American-owned private equity firm $159 million (177.2 billion won) of previously collected capital gains tax on the company’s sale of its 51% stake in Korea Exchange Bank (KEB) in 2011.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Request Access or Login

Topics

more across site & shared bottom lb ros

More from across our site

Direct Tax

Exclusive: Weak pCbCR filings persist as Fair Tax Foundation analysis hits 650

Spanish-headquartered multinationals lead on reporting quality, while US and Swiss groups lag in the Fair Tax Foundation’s expanded analysis

Tom Baker, October 21 2026

Podcasts

Podcast: Danny Werfel on AI risk, IRS leadership, and global tax cooperation

Former IRS commissioner Danny Werfel joins ITR for a must-listen conversation spanning his time leading the agency, his AI risk framework, and the future of the OECD

Tom Baker, October 21 2026

Direct Tax

Oslo, Norway - 24 September 2022: PricewaterhouseCoopers or PWC

Pillar two spurs growth again as PwC’s tax revenues improve

Tax and legal services was PwC’s fastest-growing business line last year, helping to put the firm back on a par with its big four rivals

Sam Sholli, October 20 2026

Direct Tax

Beyond the headlines: New Middle East tax boutique puts AI at heart of its model

Ex-EY and Hourani & Partners leader Zain Satardien is using flexible staffing and AI-enabled systems to test a leaner model for specialist legal and tax advice

Tom Baker, October 19 2026

Direct Tax

A taxing week: KPMG’s updated action plan is encouraging despite elephant in the room

The big four firm is rightfully prioritising transparency and accountability as it seeks to rebuild from its scandal, but a glaring structural issue remains

Sam Sholli, October 16 2026

Direct Tax

Grant Thornton UK compounds EY exits with tax hires

A recent hiring flurry has taken the firm’s number of partner appointments this year to 121 and put it on track to hit 160 partner target early

Sam Sholli, October 16 2026

Direct Tax

Exclusive: EY absorbs Arnstein Legal to launch new Venezuelan legal practice

The move brings specialist tax and litigation capability to EY as it seeks to close the gap on Baker McKenzie and Venezuela’s leading local firms

Tom Baker, October 15 2026

Direct Tax

Opinion: Law firms can’t crack AI alone

The industry’s response to AI requires an unfamiliar ingredient as firms battle to shape their futures

Ed Conlon, October 14 2026

Direct Tax

WTS UK capitalises again on EY exodus with director hire

The ambitious big four challenger firm has also appointed ex-RSM partner Brad Ashton to build out its customs and global trade practice

Sam Sholli, October 13 2026

Direct Tax

Deloitte Cyprus embroiled in Roman Abramovich tax evasion allegations

The big four firm allegedly reviewed backdated documents and signed off on accounts that removed hundreds of millions of dollars of Abramovich’s assets

Sam Sholli, October 12 2026