Elliott International, L.P.

Elliott International v BEA (0023) & others
HK Court of First Instance, 7-Sep-2018
Justice Jonathan Harris grants Elliott permission to publish the Points of Defence and the Points of Reply, in the interests of open justice. The broader question, in our view, is why, in the 21st century, are written submissions and other documents for open hearings not filed electronically and made available for free via the judiciary web site?
Elliott International v BEA (0023) & others
HK Court of First Instance, 28-Aug-2018
10 months after a hearing, Jonathan Harris orders discovery on both sides, including "documents recording Elliott’s strategy at the time of its investment".
Elliott International v BEA (0023) & others
HK Court of First Instance, 13-Jul-2018
Nearly 11 months after his decision, Jonathan Harris gives reasons for dismissing BEA's strike-out petition. Elliott claims that the share placements to SMBC and Caixa and voting undertakings were for an improper purpose, to entrench control of BEA by David Li and his family. BEA claims that Elliott has a collateral purpose, to facilitate a takeover of BEA. Our view: when shareholders seek to remedy an alleged wrong done by the board of their company, the benefits that flow from that are irrelevant. In corporate governance, boards are accountable to shareholders, not the reverse.
Elliott Management's web site on BEA (0023)
Company web site, 4-Feb-2016
Samsung C&T: vote against
Company web site, 6-Jul-2015
South Korea is not usually on our radar, but kudos to Elliott for leading the campaign and going to court to try to stop the Samsung C&T takeover on its current terms. Vote against!

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