🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

UPDATE 1-Samarco dam claimants to take BHP class action to English Court of Appeal

Published 03/02/2021, 08:01 am
Updated 03/02/2021, 08:06 am
© Reuters.
BHP
-
BHPB
-
VALE3
-

(Adds comment from PGMBM on costs)

Feb 2 (Reuters) - Lawyers for about 200,000 Brazilian claimants, whose multi-billion dollar lawsuit against Anglo-Australian miner BHP BHPB.L BHP.AX over a 2015 dam collapse was struck down last November, said on Tuesday they will petition the English Court of Appeal to review the case.

"This is a challenging case for the courts, but we are optimistic that we can establish jurisdiction in England and see justice done for our clients," said Tom Goodhead, managing partner at PGMBM, which is representing the claimants.

"In the event of any adverse costs ruling, these would be covered by the funders and insurers of the case, not the victims of the disaster. In no circumstances would we allow our clients to incur the costs," he said.

He also said any costs would be appealed as part of the appeal process.

Claimants are suing the mining giant and for 5 billion pounds ($6.82 billion) in damages after the Fundao tailings dam collapsed in 2015, killing 19 residents in Minas Gerais and causing Brazil's worst environmental disaster.

BHP and Vale VALE3.SA are the parent companies of the dam operator Samarco.

A High Court judge in Manchester refused on Friday to allow the claimants to appeal against his November ruling, saying he remained convinced the claim was not merely challenging but "irredeemably unmanageable if allowed to proceed further in this jurisdiction". judge ordered the claimants to pay 8 million pounds in interim costs to BHP by 1600 GMT on Feb. 12.

The claimants have 21 days from Friday's ruling to apply for permission to appeal their case at the Court of Appeal.

BHP declined to comment on Friday's decision or on the case being taken to the Court of Appeal.

($1 = 0.7329 pounds)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.