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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!