Business Wire

US District Judge Dismisses Rio Tinto Case against BSG Resources

Del

A US Southern District of New York Judge dismissed on all counts the RICO complaint made by Rio Tinto Plc ("Rio") in August 2014 against BSG Resources (“BSGR”), Beny Steinmetz and other defendants including Brazilian mining company VALE SA.

The unequivocal dismissal of the case with prejudice on Friday 20th of November 2015, by the Honorable Judge Richard Berman, bars Rio from re-pleading its case and represents a significant victory for BSGR in its efforts to ensure the truth in relation to Simandou is properly set out.

The court's decision was based on the following:

  • Rio failed to allege any sufficient or coherent claim against BSGR and Mr Steinmetz under the United States’ Racketeering Influenced and Corrupt Organizations Act 1970 ("RICO") and Rio's conspiracy claim under RICO did not and could not, therefore, exist;
  • Rio's RICO claims were long ago time barred, and should never have been brought;
  • The Court refused even to consider Rio's New York state based fraud claims against BSGR and Mr Steinmetz, which were similarly baseless;
  • By dismissing the case, BSGR de facto and de jure defeats Rio in the court of law, further demonstrating the baseless allegations brought about by Rio in 2014 against it on flawed information.

According to BSG Resources, this claim is the latest in a long line of Rio's attempts to deprive BSGR of its legitimate interest in the Simandou project.

Commenting on the US court’s decision on the Rio RICO complaint, James Libson, Executive Partner at Mischon de Reya LLP and legal counsel to BSGR, said:

"On the basis of this decision and what has been learnt in the process BSGR is exploring its options to ensure it is fully compensated for the billions of dollars of damage caused to it by Rio's unlawful conduct."

A copy of the US Court Judgement can be accessed via the following URL

http://media.buchanan.uk.com/20151120decisionandorder.pdf

Contact information

Buchanan
Bobby Morse/Anna Mischniewicz
Tel: +44 (0)20 7466 5000
Email: BSGR@buchanan.uk.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Equifax Integrates Entersekt’s Digital Security System22.2.2018 12:35Pressemelding

Entersekt, a leader in push-based authentication and mobile app security, today announced a technology partnership with global information solutions company Equifax Inc. (NYSE:EFX). Equifax has licensed Entersekt’s product Transakt to serve as an additional layer of security protecting the Equifax online and mobile services. Transakt empowers consumers to play an active role in safeguarding their digital identities and accounts. Whenever access to a digital identity or account is required, an authentication request is pushed to their phone or tablet in real time. They approve or block access by simply tapping Accept or Reject. It’s a highly intuitive, one-touch user experience engineered for a mobile-first world. Transakt’s ease of use belies its advanced set of security features. Covered by 56 patents in the United States and elsewhere, the digital-certificate–based technology uniquely identifies each registered mobile device; ensures its continued integrity as a factor of authenticat

ImmerVision to Showcase AI-Ready Vision Technology at MWC 201822.2.2018 12:00Pressemelding

ImmerVision, a technology company enabling intelligent vision in all the world’s devices, announced today that it is uniquely prepared to provide AI-ready, data-rich image processing to today’s most incisive device makers and manufacturers. Indeed, ImmerVision is already providing such hyper-intelligent image capture capabilities to some of the world’s top brands. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005513/en/ ImmerVision Enables AI-ready intelligent devices include Acer Holo360, Quanta Pi SOLO, and Tamaggo 360LiveCam (Graphic: Business Wire) Based in Montreal, Canada, ImmerVision develops wide-angle panomorph lenses and data-augmented imaging algorithms, enabling creative manufacturers to see more and smarter while creating professional and consumer devices. “In our quest to enable intelligent vision in every device, ImmerVision has taken a great leap forward,” says Alessandro Gasparini, Executive Vice Presi

Kite, a Gilead Company, and Sangamo Therapeutics Announce Collaboration to Develop Next-Generation Engineered Cell Therapies for the Treatment of Cancer22.2.2018 12:00Pressemelding

Kite, a Gilead Company (Nasdaq:GILD) and Sangamo Therapeutics, Inc. (Nasdaq:SGMO) today announced the companies have entered into a worldwide collaboration using Sangamo’s zinc finger nuclease (ZFN) technology platform for the development of next-generation ex vivo cell therapies in oncology. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180222005488/en/ Kite will use Sangamo’s ZFN technology to modify genes to develop next-generation cell therapies for autologous and allogeneic use in treating different cancers. Allogeneic cell therapies from healthy donor cells or from renewable stem cells would provide a potential treatment option that can be accessed directly within the oncology infusion center, thus reducing the time to infusion for patients. Under the terms of the agreement, Sangamo will receive an upfront payment of $150 million and is eligible to receive up to $3.01 billion in potential payments, aggregated across 10

CorFlow Presents Fundamental New Insights into the Coronary Microcirculation at ACC22.2.2018 09:10Pressemelding

CorFlow Therapeutics AG (www.corflow-therapeutics.ch) today announced that the company will present fundamental new insights into the coronary microcirculation during the annual meeting of the American College of Cardiology (ACC) in Orlando, FL, March 10-12, 2018. CorFlow has since its foundation in June 2016 worked to document that the Controlled Flow Infusion (CoFITM) technology is able to measure the coronary microvascular status and provide therapy to the compromised coronary microcirculation at the same time. Microvascular obstruction (MVO) affects more than half of the acute heart attack patients and is an independent predictor for complications including heart failure which constitutes a high cost burden for the world-wide health care system. To address this large unmet medical need in interventional cardiology, CorFlow has developed an in-vivo model which reproducibly creates MVO in an occlusion-reperfusion model with very low complication rates. Using this in-vivo model, the C

DocsCorp White Paper Encourages Businesses to Review their 2018 Data Protection Strategy – Protection through Technology22.2.2018 09:02Pressemelding

Tough new data protection laws are coming – are you prepared? Reviewing your data protection strategy in 2018, a new white paper published today by DocsCorp, challenges readers to assess their readiness to comply with rigorous upcoming data protection standards affecting businesses in Europe, the Americas and Australia. DocsCorp contends that organizations around the world will be affected by new data laws. The UK’s General Data Protection Regulation (GDPR) goes into force in May 2018. Australia’s new, sweeping National Data Breach (NDB) notification laws already require all businesses to report data breaches. In the United States, many individual states have passed their own data protection laws, and the US federal government has proposed the nationwide Data Security and Breach Notification Act, currently under congressional review. A main focus of GDPR is “Privacy by Design and Default,” which recommends preventative action before breaches occur rather than coping with damages and pe

GSMA Warns That Policymakers Must Act Now to Avoid Mobile Network “Gridlock” in Major Cities22.2.2018 09:00Pressemelding

The GSMA today published a new report that examines the ability of mobile networks to meet the exploding demand for mobile data in the world’s largest and densest cities. The GSMA/Boston Consulting Group report, “Delivering the Digital Revolution: Will Mobile Infrastructure Keep Up with Rising Demand?”, finds that networks in so-called “megacities” such as New York, Shanghai, Shenzhen and Tokyo will face a significant gap between mobile data traffic demand and available network capacity, with as much as 48 per cent of traffic demand going unserved in ultra-dense urban areas by 2025. The report highlights that regulatory reform will be critical in closing the projected supply-demand gap and unlocking the economic potential of next-generation mobile broadband. “The current global regulatory landscape has been successful in creating a competitive market that has made mobile connectivity accessible to more than five billion people around the world,” said John Giusti, Chief Regulatory Offic