Process & Industrial Development, which is jointly owned by a British lawyer’s litigation funding firm and VR Capital Group, has alleged that Nigeria cooked up fictitious allegations in a politically motivated campaign to dodge a massive $11 billion arbitration award.
SPS Capital, a prominent Brazilian special situations fund with R$2.0 billion (USD $380 million) in assets under management, has been acquired by Vinci Partners, another leading alternative investment platform in Brazil. SPS Capital, together with PGMBM, is funding the high-profile claim against mining giant BHP in relation to the Fundão dam collapse.
BHP, the world’s largest miner by market value, has lost an appeal in a London court seeking to block an over £5 billion lawsuit by 200,000 Brazilians over a deadly dam failure in Brazil seven years ago. The group claim is one of the largest in British legal history. PGMBM and SPS Capital are funding the claim.