Paul Hastings, a leading global law firm, announced today that it led its client Lotte Chemical Corporation (“Lotte”), a member company of the Lotte Group and previously known as Honam Petrochemical to a complete dismissal with prejudice of a complex international Intellectual Property dispute in the United States District Court for the Middle District of Alabama Northern Division.
The dismissal eliminates the threat of a monetary judgment against Lotte and represents a full victory for the company.
In February 2012, American Structural Needling Company, a division of Burnam Enterprises, LLC brought suit against DACC Co. Ltd, Lotte and DACC-Aerospace Co. Ltd., claiming breach of contract, violations of trade secret law, fraud, interference with contractual and business relations, and conspiracy in a complex multi-party international dispute concerning alleged violation of trade secret information. In June 2012, Paul Hastings filed a motion to compel arbitration and stay proceedings pending arbitration of the dispute under the auspices of the International Chamber of Commerce, in an arbitration seated in Seoul, Korea.
On January 7, 2013, the US District Court granted Lotte’s motion to compel arbitration in full and stayed the litigation pending arbitration of the dispute in Korea. And on June 6, 2013, the court US District Court dismissed with the case with prejudice without arbitration.
The Paul Hastings team included Intellectual Property co-chair Jeffrey Randall, Seoul office chair Jong Han Kim, Intellectual Property partner Jeffrey Pade and International Arbitration partner Joseph Profaizer and associates Daniel Prince, Trisha Chang, Tad Richman and Jared Lee.
This significant victory also marks the firm’s first litigation win for a South Korean client in an intellectual property and international arbitration dispute since opening its Seoul office.
Paul Hastings officially opened an office in Seoul, Korea on November 1, 2012 and has practitioners on the ground including IP and complex litigation specialists. The office, located in the prestigious Mirae Asset Center1 building in downtown Seoul, marks Paul Hastings’ twentieth office worldwide and its fifth in Asia.
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