Brazil’s Vale must pay $213 mln to pension fund
JUSTIÇA DE SÃO PAULO DETERMINA QUE O MUNICIPIO AUTORIZE A EXPEDIÇÃO DE NOTAS FISCAIS ELETRÔNICAS.
9 de fevereiro de 2024
Por que Rússia deve crescer mais do que todos os países desenvolvidos, apesar de guerra e sanções, segundo o FMI
18 de abril de 2024A Brazilian court said on Tuesday it ordered mining giant Vale (VALE5.SA) to pay 340 million reais ($213 million) to a pension fund in a dispute over a gold contract signed in 1988.
Petros, a pension fund for employees of state-run oil company Petrobras (PETR4.SA), bought gold from Vale in 1988 but later annulled the contract and asked to be reimbursed, according to the court statement.
The court ruled that the reimbursement did not adequately compensate Petros for inflation, which reached quadruple digits in the late 1980s. Vale officials did not immediately respond to requests for comment.
