Vale Challenges Real Estate Co.'s Fee Payment In NY Case

By Joyce Hanson (February 22, 2022, 9:44 PM EST) -- Vale SA urged a Manhattan federal court not to make it pay for a real estate investor's discovery expenses in a New York lawsuit after the mining giant abruptly dropped a parallel $1.2 billion bribery case in the U.K. against billionaire Beny Steinmetz.

In a Friday letter to U.S. Magistrate Judge Ona T. Wang, the Brazilian mining company disputed RFR Holding LLC's argument that Vale should be held liable for hundreds of thousands of dollars in fees and costs it assumed because Vale's attorneys abandoned the fraud lawsuit against the Israeli billionaire on Feb. 14.

Vale's letter asked Judge Wang to...

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