Vale Wins Bid For Docs In $500M Guinean Mining Project Fight
Law360 (July 20, 2020, 10:51 PM EDT) -- A New York judge on Monday allowed Brazilian mining company Vale SA to seek information on the whereabouts of $500 million it invested in a doomed Guinean mining project to be used in U.K. litigation accusing Israeli billionaire Beny Steinmetz of fraudulently inducing it to enter into the venture.
U.S. Magistrate Judge Ona T. Wang granted Vale's petition seeking permission to subpoena a number of real estate investors that may have received part of its $500 million payment after entities affiliated with Steinmetz purchased certain "valuable and iconic" buildings in Manhattan.
The Brazilian company told the court in its April petition...
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