Vale Says Steinmetz's Real Estate Co. Is Stonewalling

Law360 (May 28, 2021, 6:43 PM EDT) -- Brazilian mining company Vale SA is seeking to compel discovery from a Manhattan real estate corporation in a long-running effort to recover funds from an alleged billion-dollar fraud perpetrated by BSG Resources and its owner, Beny Steinmetz.

In the motion filed Wednesday in New York federal court, Vale suggested that Perfectus — a real estate company linked to Steinmetz — suddenly changed counsel in the middle of the proceedings specifically to obstruct the discovery process.

The new attorneys, located overseas, refused to engage with Vale after the switch happened in March, the company said.

"Perfectus is not merely a U.S.-based third...

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