Vale informs on permission to enforce US$ 2 billion arbitral award
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Vale informs on permission to enforce US$ 2 billion arbitral award
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Vale informs that, on September 20, 2019, the English High Court ruled that Vale can proceed with enforcement of its US$2 billion arbitration award against BSG Resources Limited (BSGR) in England.
The arbitration award was issued in Vale's favour on April 4, 2019 after a Tribunal of the London Court of International Arbitration ruled that BSGR defrauded Vale in relation to Vale's investment in the Simandou iron ore project in Guinea.
Vale intends to continue with its actions to enforce the award against BSGR, and is currently pursuing court action against BSGR in New York, as well as in England
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