Asarco Creditors Fire Up Over Push To Scuttle Smelter

Law360, New York (February 14, 2008, 12:00 AM EST) -- With plans to reopen a controversial copper plant in El Paso, Texas, hanging in the balance, major creditors of bankrupt Asarco LLC want a court to quash moves by the city to lift the automatic stay shielding it from litigation.

City officials want relief from the stay so that they can petition state environmental authorities to revoke Asarco's air permit, which would sink the bankrupt copper producer's plans to re-fire the smelters at the shuttered facility, the creditors said.

In its objection to the motion for...
To view the full article, register now.