Grupo Affiliate Ups Offer Again For Bankrupt Asarco

Law360, New York (June 25, 2009, 12:00 AM EDT) -- Further fattening its offer to reclaim bankrupt mining company Asarco LLC, Grupo Mexico SAB de CV affiliate Americas Mining Corp. has filed another reorganization proposal for Asarco, under which it would make $3.1 billion available to pay back claims — including setting up an asbestos liability trust — and bring the company out of Chapter 11.

Americas Mining filed the fifth amended plan Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas, bringing its total bid for Asarco to about $200 million more...
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