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BSG Resources-linked companies shouldn't pay $2 billion in civil fraud claim, UK court told

By Annie Robertson ( June 29, 2021, 20:37 GMT | Insight) -- Two companies linked to disgraced Israeli tycoon Beny Steinmetz today urged a UK court to dismiss a $2 billion fraud claim brought by Brazilian mining company Vale over a failed joint venture in the Republic of Guinea. The holding companies of mining group BSG Resources — Balda Foundation and Nysco Management — argued that Vale has no right to recover from them the money Vale lost in the 2010 iron-ore project.Two companies linked to disgraced Israeli tycoon Beny Steinmetz today urged a UK court to dismiss a $2 billion fraud claim brought by Brazilian mining company Vale over a failed joint venture in the Republic of Guinea....

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