Elliott Associates LP v Republic of Korea - KORUS FTA - Elliott-Samsung-Cheil - PCA Case 2018-51 - Claimant's Request for Correction of the Award - English and Korean - 20 July 2023
Country
Year
2023
Summary
Claimant's Request for Correction of the Award - 20 July 2023
TABLE OF CONTENTS
I. INTRODUCTION
II. THE ROK'S ATTEMPT TO RE-OPEN THE TRIBUNAL'S QUANTIFICATION OF DAMAGES GOES FAR BEYOND THE PERMISSIBLE SCOPE OF ARTICLE 38 OF THE UNCITRAL RULES
A. The scope of Article 38
B. The ROK's Request for Correction
III. IN THE ALTERNATIVE, THE TRIBUNAL SHOULD CORRECT A FURTHER METHODOLOGICAL ERROR IN ITS CALCULATION OF THE CLAIMANT'S LOSS
IV. REQUESTS FOR RELIEF
I. INTRODUCTION
1. On 18 July 2023, the Republic of Korea (ROK) submitted its Request for Correction and Interpretation of Award (the ROK's Request), purporting to correct "an error in the computation of damages"1 in the Tribunal's Award of 20 June 2023 (the Award), pursuant to Article 38 of the 2013 Arbitration Rules of the United Nations Commission on International Trade Law (the UNCITRAL Rules).
2. The ROK's Request for Correction far exceeds the permissible scope of Article 38 of the UNCITRAL Rules. Rather, the ROK's purported "corrections" to the Tribunal's methodology for calculating damages are akin to a third bite at the apple of post-hearing submissions on quantum and should be dismissed (Part II).
3. In the event that the Tribunal finds that the scope of Article 38 corrections extends to corrections in calculation methodology, the Claimant hereby submits a Request for Correction of the Tribunal's Award, as set out in this application, which is duly filed within the deadline stipulated under the UNCITRAL Rules (Part III).
...
IV. REQUESTS FOR RELIEF
21. For the reasons above, which the Claimant will set out in more detail in due course, the ROK's Requests for Correction and Interpretation should be dismissed.
22. In the event that the Tribunal accepts the ROK's submissions as to the permissible scope of Article 38, the Claimant requests the Tribunal to make the corrections set out in paragraph 20 herein.