Grupo Mexico Wins Chance At Bat In Asarco Case

Law360, New York (July 2, 2008, 12:00 AM EDT) -- Though Asarco's Chapter 11 case looked to be nearing an end, the bankruptcy judge overseeing the proceedings has allowed Grupo Mexico to pitch a reorganization plan for the beleaguered mining company.

On Tuesday, U.S. Bankruptcy Judge Richard Schmidt revived Grupo's seemingly dead bid to present its own Chapter 11 plan, weeks after Asarco agreed to sell its assets to India-based Sterlite Industries Ltd. for $2.6 billion.

Grupo Mexico has long insisted that it could come up with a better plan that would satisfy all creditors and...
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