Asarco Asks For 8-Month Extension, Gets 4

Law360, New York (April 12, 2007, 12:00 AM EDT) -- Asarco LLC has been granted a four-month extension of its exclusive right to file and solicit support for its Chapter 11 reorganization plan, despite the fact that the 108-year-old mining company had asked the court to extend its exclusivity period by eight months.

The extension, granted by U.S. Bankruptcy Judge Richard S. Schmidt, marked the sixth time the bankruptcy court in charge of the Asarco’s Chapter 11 case has extended the company’s exclusive rights since it filed for bankruptcy in August 2005.

Judge Lifland on Wednesday...
To view the full article, register now.