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Elliott Expresses Disappointment at Republic of Korea’s Decision to Challenge Award in Corruption Case

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WEST PALM BEACH, Fla., July 18, 2023 /PRNewswire/ — Elliott Investment Management L.P. (“Elliott”), today issued the following statement:

Elliott is disappointed by the Republic of Korea’s (“ROK”) decision to commence a legal proceeding in London to set aside the Award of approximately US $108.5 million (representing damages, interest, and legal fees and costs) granted to Elliott by the Tribunal last month.

The ROK’s refusal to honor the Tribunal’s unanimous decision—which, after five years of thorough litigation, found against the ROK on virtually every substantive ground—sends the wrong message about the Republic’s tolerance for corruption and impairs the country’s objective to be viewed as a fair and responsible market for foreign investment. Further, many Koreans, including institutional investors and pensioners, were damaged by Samsung and the prior administration’s actions. Had Elliott not been illegally obstructed by the corrupt conduct at the heart of this case, these Korean institutions and pensioners all would have benefited significantly.

This challenge to the Award seems once again designed to use opposition to Elliott to distract from the damage done to Korean shareholders, domestic and foreign, by Samsung and the ROK, who together treated them as pawns to be sacrificed in a scheme to benefit only a few powerful individuals. It is noteworthy that all of this conduct was proven in Korean courts and prosecuted by members of the current administration. Elliott’s right to recovery is based on the factual findings of Korean judges under the exacting standard of beyond a reasonable doubt, applied under well-established international law.

From Elliott’s perspective, the legal proceeding initiated by the Republic today is wasteful: It appears that the ROK is planning to reiterate arguments that it made in the arbitration proceeding, which the Tribunal has considered and rejected. Further, precedents show that the English courts hold set-aside applications to a very high standard. The interest and costs due on the Award will continue to accrue until the payment of the full award is made to Elliott. Under the circumstances, Elliott believes that this legal proceeding will only result in further needless expenditure of Korean taxpayers’ money. 

Elliott intends to vigorously oppose the arguments advanced by the ROK.

More information regarding this matter can be found on the website of the Permanent Court of Arbitration by following the link below:

https://pca-cpa.org/en/cases/197/ 

About Elliott

Elliott Investment Management L.P. manages approximately $55.2 billion of assets as of December 31, 2022. Founded in 1977, it is one of the oldest funds under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.

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Media Contact:

U.S.
Stephen Spruiell
Elliott Investment Management L.P.
T: +1 212 478 2017
[email protected] 

London
Alice Best
Elliott Advisors (UK) Limited
T: +44 203 009 1715
[email protected] 

Seoul
Jin Kim
Nine Crosby
T: +82 (2) 866 9455
[email protected] 

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CARD91 Launches Revolutionary 3-in-1 Card Platform at Global Fintech Fest 2024: Pioneering ID and Payment Integration

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CARD91 proudly announces the launch of its 3-in-1 card platform at the prestigious Global Fintech Fest 2024. This innovative solution merges an ID Card, Access, and Prepaid Card functionalities, including NCMC, into one streamlined product, tailored for the modern needs of Corporate Employees and Students alike. Apart from these use cases, this card can be used in multiple scenarios like proper management of large-scale events, in medical institutions, shopping malls, and many more.

Unlock the Future with a Single Tap

This 3-in-1 card platform is set to redefine how organisations and their employees handle professional and financial transactions. By integrating multiple services into one card, users can now enjoy unparalleled convenience, improved security, and increased flexibility.

Platform Capabilities:

  • Mobile-First Design: Optimised for mobile access, ensuring a seamless experience for both users and issuers.
  • User-Friendly Interface: Intuitive portals and customisable dashboards simplify management, enhancing operational efficiency for corporates.
  • Regulatory Compliance: Fully aligned with RBI guidelines, ensuring secure, compliant transactions.
  • Enhanced Security: Equipped with numberless EMV cards, multi-factor authentication, and PCI DSS-compliant data storage for robust fraud protection.
  • Configurable Integration: Open APIs allow easy adaptation and integration with various business systems.
  • End-Use Control: Customisable settings for transaction limits, whitelisting/blacklisting MCCs/MIDs for enhanced expenditure control.

Card Benefits:

  • Multipurpose Functionality: A unified solution for both business and personal use, simplifying everyday interactions.
  • Convenient Mobility: NCMC-enabled, allowing users to skip metro queues and streamline daily commutes.
  • Environmentally Friendly: Reduces carbon footprint by consolidating multiple functions into one eco-friendly card.

A New Era of Integration and Convenience

“We are thrilled to introduce this pioneering 3-in-1 card platform. This product represents our vision of the future, where technology seamlessly integrates into our everyday lives, from unlocking office doors to making secure online purchases and tapping to pay at the store. This launch also signifies our preparedness to enable APAAR Cards for students,” said CARD91 CEO, Ajay Pandey.

He added, “This launch marks a significant step forward in digital convenience, and we extend our sincere thanks to NSDL Payments Bank and NPCI for their support in making this possible.”

The post CARD91 Launches Revolutionary 3-in-1 Card Platform at Global Fintech Fest 2024: Pioneering ID and Payment Integration appeared first on HIPTHER Alerts.

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King Street and Bowery’s Voyage Platform Expands Across European Last-Mile Logistics Markets

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LONDON, Sept. 19, 2024 /PRNewswire/ — Voyage, the last mile logistics platform launched by King Street Capital Management (“King Street”) and Bowery, today announced it now spans over 2 million square feet across Germany, France and the Netherlands. This follows the recent acquisition of Vaihingen, Voyage’s latest asset in Germany.

Voyage has grown steadily into core European markets such as Paris, the German Rhein-Ruhr region and Eindhoven. The Vaihingen acquisition marks the second in the Stuttgart region since December 2022 and the eighth in Germany since April 2023. It follows Voyage’s debut acquisition in the Dutch market earlier this year.

“Voyage seeks to capitalize on the experience of the King Street and Bowery teams, leveraging sector expertise and skill managing logistics portfolios,” said Paul Brennan, Partner and Co-Head of Real Estate at King Street. “With a healthy pipeline, we look forward to continuing to scale Voyage to further develop its presence in top-tier last-mile logistics hubs.”

The platform seeks to benefit from a combination of price correction in the sector and resilient occupier demand in the target markets. The team believe its nimble and disciplined approach will help Voyage identify acquisition opportunities for functional assets located in the most liquid markets. Bowery has made significant progress with the implementation of accretive asset management initiatives, such as the overall refurbishment of the warehouse space and installation of LED lights to improve the platform’s carbon footprint. Voyage is also investing capex across the portfolio with a goal of achieving a 60% reduction in energy consumption as well as leading-edge ESG credentials to extend the life cycle of its assets.

“As we see market sentiment improving, we are confident in the foundations of the Voyage platform and are excited about the future growth of the portfolio,” said Jean-Marie Caillon, CEO of Bowery. “We believe our international investment culture together with our presence on the ground in each market, provides a strong and comprehensive resource to our investors.”

About King Street Capital Management
King Street Real Estate, the real estate investment division of King Street Capital Management, specializes in equity and debt investments in disrupted markets and complex situations. Since its inception, King Street has completed transactions totaling $15 billion in real estate securities and real estate-related investments.

Founded in 1995, King Street is a global alternative investment firm with over $26 billion in assets under management across both public and private markets. The firm combines rigorous fundamental research with tactical trading and differentiated sourcing capabilities to identify complex and misunderstood investment opportunities across asset classes, up and down the capital structure. 

For more information, please visit www.kingstreet.com.

Follow King Street Capital Management and King Street Capital Real Estate on LinkedIn.

About Bowery
Founded in 2020, Bowery is a pan-European investment and asset management company covering the whole spectrum of logistics real estate. Bowery has offices in London and Paris. For more information, please visit www.boweryeurope.com

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Media Contacts
For King Street
Prosek Partners
[email protected] 

For Bowery
[email protected] 

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Quadient positioned as the Leader in the 2024 SPARK Matrix™ for Accounts Payable Automation by QKS Group

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  • The QKS Group SPARK Matrix™ provides competitive analysis & ranking of the leading vendors.
  • Quadient, with its comprehensive technology and customer experience management, has received strong ratings across the parameters of technology excellence and customer impact.

MIDDLETON, Mass., Sept. 19, 2024 /PRNewswire/ — QKS Group announced today that it has named Quadient as a 2024 technology leader in the SPARK Matrix: Accounts Payable Automation.

The QKS Group’s SPARK Matrix™ includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading technology vendors in the form of its SPARK MatrixTM. The study offers strategic information for users to evaluate different provider capabilities, competitive differentiation, and market position.

QKS Group defines Accounts Payable Automation as software tools designed to streamline and automate invoice processing, ensuring accuracy and timely supplier payment. These solutions minimize manual tasks, boost operational efficiency, and help companies take advantage of early payment discounts. These tools manage invoice capture, validation, and matching with purchase orders or contracts. Additionally, they offer features like fraud detection and cash management. Additionally, they provide comprehensive reporting and analytics, enhancing visibility and control over financial data and ensuring compliance with e-invoicing regulations.

According to Nehan Jain, Analyst at QKS Group, “Quadient’s Accounts Payable (AP) automation solution empowers users to streamline their invoice management processes by leveraging OCR and auto-coding functionality to automatically populates header and line-item details thus expediting payment approvals. Quadient’s robust AP automation offerings, including real-time dashboards, reporting tools, automated invoice capture, validation, approval, and payment processes, adapt seamlessly to each user’s unique business needs ensuring ease of implementation and seamless integration with existing financial systems and workflows. Furthermore, Quadient’s digital automation platform, Quadient Hub, facilitates multi-entity product and service management with effortless data sharing. Additionally, Quadient AP provides read-only auditor-specific access credentials, enabling efficient compliance checks and audits. With these features, strong customer value proposition, and compelling ratings across customer impact and technology excellence parameters, Quadient has been recognized as a leader in the 2024 SPARK MatrixTM: Accounts Payable Automation,” adds Nehan.

“Being recognized once again as a technology leader in the ‘SPARK Matrix for Accounts Payable Automation’ report confirms our growing market leadership and commitment to delivering continuous innovation through our digital automation platform,” said Chris Hartigan, chief solution officer, Digital Automation for Quadient. “In addition to bringing the most efficient and powerful procure-to-pay and invoice-to-cash solutions to our customers across the globe, Quadient is uniquely positioned to help businesses address new regulatory e-invoicing initiatives within the European Union.”

The Accounts Payable Automation (APA) market has transitioned from manual processes to advanced digital solutions driven by EDI, digitization, and automation. Today’s APA tools are essential for managing organizational spending and streamlining complex global operations by automating invoice capture, validation, three-way matching, and payment authorization. As demand for efficiency grows, solutions now offer touchless invoice processing, covering the entire lifecycle from receipt to payment approval, enhancing agility, and enabling early payment discounts while ensuring compliance with evolving e-invoicing regulations. Business-to-Government (B2G) mandates are driving investment in APA software to support invoice processing and supplier payments. Organizations are integrating accounts payable, receivable, and spend management functions to accelerate approvals, increase productivity, and reduce costs. The market is marked by continuous innovation as vendors tackle integration challenges and improve communication through supplier portals and APIs. AI and ML technologies enhance fraud detection, generate insights, and automate reporting, with generative AI and large language models being explored for further automation. As digital transformation accelerates, APA solutions are poised to drive efficiency, cost savings, and regulatory compliance in financial operations.

Additional Resources:

About Quadient

Quadient is a global automation platform powering secure and sustainable business connections through digital and physical channels. Quadient supports businesses of all sizes in their digital transformation and growth journey, unlocking operational efficiency and creating meaningful customer experiences. Listed in compartment B of Euronext Paris (QDT) and part of the CAC® Mid & Small and EnterNext® Tech 40 indices, Quadient shares are eligible for PEA-PME investing. For more information about Quadient, visit www.quadient.com.

Media Contacts:

Joe Scolaro
Global Press Relations Manager
+1 203-301-3673
[email protected]

About QKS Group

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QKS Group is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business and Growth advisory services. At QKS Group, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.

For more available research, please visit https://qksgroup.com/market-research/ 

Quadrant Contact: 
Shraddha Roy
PR & Media Relations
QKS Group
Regus Business Center
35 Village Road, Suite 100,
Middleton Massachusetts 01949
United States
Email: [email protected] 
Content Source: https://qksgroup.com/resources/newsroom/quadient-positioned-as-the-leader-in-the-2024-spark-matrix-for-accounts-payable-automation-by-qks-group?id=769
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Cision View original content:https://www.prnewswire.co.uk/news-releases/quadient-positioned-as-the-leader-in-the-2024-spark-matrix-for-accounts-payable-automation-by-qks-group-302253029.html

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