Heungkuk Life Dispute With Goldman Sachs Goes to Arbitration
This article is for subscribers only.
Heungkuk Life Insurance Co.’s lawsuit against Goldman Sachs Group Inc. over a collateralized debt obligation was withdrawn from New York state court after the two sides agreed to resolve the dispute through arbitration.
Heungkuk sued New York-based Goldman Sachs in federal court in Manhattan in March over a $1 billion collateralized debt obligation known as Timberwolf, accusing the company of fraud and seeking more than $47.3 million in damages. The Seoul-based insurer filed a similar state-court suit in April.