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On 15th February 2022 the $1.2 billion claim by Vale SA, against eight Defendants including Benjamin Steinmetz, were dismissed by Mr Justice Andrew Baker.

Vale admitted during trial that all of its pleaded claims were out of time and applied to discontinue. Three of Vale’s witnesses had been cross-examined. Vale provided late disclosure  of documents previously said to be privileged.  The dismissal ends Vale’s claims.

Nicola Boulton, Elizabeth Seborg and Caitlin Ferguson of PCB Byrne acted for the Balda Foundation (Liechtenstein) and Nysco Management Limited, and instructed Ruth den Besten of Essex Court Chambers.

We are grateful for the fantastic advice and consistent support from Essex Court over the course of the proceedings.

We particularly enjoyed having an all women trial team achieve this result!

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