Vale S.A.’s claims against eight Defendants, including Beny Steinmetz (represented by Justin Fenwick KC and Lucy Colter) and David Clark (represented by Matthew Bradley), were dismissed today by Mr Justice Andrew Baker in the fourth week of an eleven-week Commercial Court trial. This followed the abandonment of the claims by Vale yesterday and the immediate discharge of the world wide freezing order by the judge.
The dismissal followed Vale’s admission part way through the cross-examination of its witnesses that all of its pleaded claims had been brought out of time and its attempts to discontinue its claims. The dismissal brings Vale’s US$1.2bn damages claim to an end.
Justin Fenwick KC and Lucy Colter acted on behalf of Mr Steinmetz, instructed by Baruch Baigel and Shimon Goldwater of Asserson. Matthew Bradley (to be appointed Queen’s Counsel in March 2022) acted on behalf of Mr Clark, instructed by Keith Oliver, Vlad Meerovich and Stefan Ansah of Peters & Peters.