A Dutch arbitration court has ordered South Korea to pay New York hedge fund Mason Capital Management more than $32m in a dispute over the merger of two Samsung affiliates back in 2015, according to a report by Reuters.

The report cites the country's Ministry of Justice as confirming the ruling by the Netherlands-based Permanent Court of Arbitration (PCA). Mason Capital had been seeking $200m but the court only partly accepted its argument that its investors suffered losses as a result of government influence over South Korea's National Pension Service's (MPS) decision to approve the $8bn merger of Samsung C&T and Cheil Industries, both Samsung affiliates.

According to the Ministry of Justice, as well as the $32m, the court ruling requires the South Korean government to pay Mason Capital an additional $11m in fees and interest.

Last year, in a ruling stemming from the same merger, the PCA ordered South Korea to pay about $108.5m to another US activist hedge fund, Elliott Associates.