The Ad hoc Committee of the International Centre for Settlement of Investment Disputes (ICSID) has denied the appeal of Netherlands-based company KT Asia Investment Group BV that demanded $1.5 billion in compensation from Kazakhstan for allegedly nationalising the company's minority share in BTA Bank.
South Korea said it would "aggressively" defend itself Thursday after a US private equity firm initiated arbitration of a damages claim arising from the sale of its stake in a Korean bank.