Brazilian state requests blockage of Samarco shareholders assets

Tuesday, 27 September 2022 20:55:21 (GMT+3)   |   Sao Paulo

The government of the Brazilian state of Espirito Santo has filed in a federal court a lawsuit requesting the blockage of BRL 10.34 billion ($1.93 billion) in assets belonging to Vale and BHP, the shareholders of the iron ore pellet producer Samarco.

The lawsuit refers to the collapse of the Samarco Mariana dam in 2015, resulting in 19 deaths and a massive environmental disaster that hit the states of Minas Gerais and Espirito Santo.

According to the lawsuit, the state says it makes no sense to ask for an indemnification to Samarco, as the company is currently under judicial recovery, without access to its own resources, while its shareholders have legal obligation to pay for the expenses derived from the disaster.

In the lawsuit, the government of the Espirito Santo state is accompanied by the public attorneys of the states of Minas Gerais and Espirito Santo and by the federal public attorney

Earlier this month, the request by Samarco to pay the indemnifications during the next 20 years was considered as abusive by the governments of Minas Gerais and Espirito Santo.

LuizCompagnoni
Luiz Compagnoni
Editor

I am a retired mechanical engineer, covering the steel industry in Latin America, from iron ore to finished products, over the last 20 years.


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