Asarco, BNSF Settle Claims Over Rail Yard Cleanup

Law360, New York (August 31, 2009, 4:12 PM EDT) -- Bankrupt mining giant Asarco LLC and BNSF Railway Co. have agreed to settle several claims as part of Asarco's bankruptcy proceedings, including one where BNSF alleged that Asarco was responsible for polluting a BNSF-owned rail yard near Denver.

Asarco asked Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas on Friday to approve the settlement.

BNSF has agreed to drop its original demand of $4.4 million in exchange for a $350,000 allowed general unsecured claim, which would be repaid in full...
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