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KT Corp. v. ABS Holdings Ltd.

ABS Owns Satellite; Law Not Disregarded in Refusal to Apply 'MSIP Order' Retroactively

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OPINION AND ORDER

*1  This case arises out of a Partial Arbitration Award (the “Award”) issued in a dispute between Petitioners KT Corporation and KTSAT Corporation (collectively, “KT”) and Respondents Asia Broadcast Satellite Global, Ltd. and Asia Broadcast Satellite Holdings, Ltd. (collectively, “ABS”) over title to a geostationary satellite. KT petitions to vacate the Award and seeks remand of this case to the International Chamber of Commerce. KT cross-petitions to confirm the Award and moves to recoup attorneys’ fees and costs. For the reasons stated below, KT’s Petition to vacate is denied; and ABS’s cross-petition to confirm and its motion for attorneys’ fees and costs is granted. I. BACKGROUNDA. The Purchase and Operation Agreements and the MSIP OrderKT is a Korean satellite communications provider that manages the Korean satellite fleet. ABS is a satellite communications provider that is incorporated in Bermuda and based in Hong Kong. In 2010, ABS and KT entered into two agreements: (1) a Purchase Agreement whereby KT sold to ABS a geostationary satellite, then known as KOREASAT-3 (“KS-3″), and related baseband equipment; and (2) an Operations Agreement, which provided that KT would operate

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