Asarco Reaches $16.8M Settlement Over Idaho Site

Law360, New York (July 10, 2008, 12:00 AM EDT) -- Bankrupt copper mining company Asarco LLC has reached a $16.8 million settlement with the U.S. and Idaho governments over its liability for the cleanup of a polluted site in Idaho.

Asarco asked the U.S. Bankruptcy Court for the Southern District of Texas on Wednesday to approve a deal that would allow the U.S. and Idaho together a general unsecured claim of $10 million on Asarco's estate to the state and federal governments together, and an additional $6.8 million general unsecured claim to the federal government alone....
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