BSG Mining Billionaire Can't Trim $1.85B Fraud Lawsuit

Law360, London (December 18, 2020, 5:43 PM GMT) -- Two companies tied to an Israeli billionaire failed to beat back a former business partners' $1.85 billion fraud lawsuit after a London judge refused Friday to pare down allegations related to a failed joint venture agreement in Africa.

High Court Judge Andrew Baker rejected an application for summary judgment filed by Nysco Management Corp. and its subsidiary, Balda Foundation, seeking to trim claims filed by Brazilian mining company Vale SA over a mining project in Guinea.

Arbitrators in London have already awarded Vale and a subsidiary $2.2 billion, and Judge Baker ruled Friday that nothing in their award or an underlying...

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