Real Estate Co. Targeted In Vale's $500M Doc Bid Wants Out
By Kelly Zegers (June 11, 2020, 7:08 PM EDT) -- A Manhattan real estate investment company targeted in Brazilian mining company Vale SA's bid to recover $500 million it invested in a doomed Guinean mining project on Wednesday joined a push for a New York federal court to deny Vale a discovery order seeking information it wants to use in litigation abroad.
Vale is asking the court to order numerous Manhattan real estate entities to turn over information related to the whereabouts of "ill-gotten gains" from the project involving mining company BSG Resources, which is owned by billionaire Israeli billionaire Beny Steinmetz.
Vales believes the millions it invested may have been...
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