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...

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!