Brazilian mining company Vale SA drops USD 2 billion claim against Beny Steinmetz and seven co-defendants
Categories: Dispute Resolution
Brazilian mining company Vale SA drops USD 2 billion claim against individuals and entities linked to Israeli-born billionaire Beny Steinmetz.
Vale and Steinmetz have been locked in a multi-pronged legal battle for years resulting from a failed mining joint venture in Guinea. At the heart of the dispute is whether Steinmetz’s mining group, BSGR, obtained the rights to the Simandou iron ore deposit in that nation by fraudulent means, charges which Steinmetz has denied.
Asserson’s Baruch Baigel and Shimon Goldwater represented Beny Steinmetz,together with associate Joshua Battat. They worked closely with David Barnett of Barnea and Gabrielle Peled of GP Law.
The trial has just come to its conclusion in the UK courts.
