5th Circ. Snuffs Assault On Asarco Ch. 11 Plan

Law360, New York (December 14, 2010, 7:55 PM EST) -- A federal appeals court won't rehear a challenge from Sterlite Inc. and the United Steelworkers union to Asarco LLC's reorganization plan, closing the door on Sterlite's bid to upend the plan and insert itself as owner of the mining company.

The U.S. Court of Appeals for the Fifth Circuit on Monday refused to rehear Sterlite and the USW's challenge to a lower court’s November 2009 decision to confirm a Chapter 11 plan proposed by Asarco parent Americas Mining Corp. over the debtor’s Sterlite-sponsored plan, which enjoyed...
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