Asarco's Reorganization Plan Implements $2.6B Sale

Law360, New York (August 1, 2008, 12:00 AM EDT) -- Bankrupt copper mining company Asarco LLC filed a reorganization plan Thursday that the company says implements the $2.6 billion sale of its assets to a subsidiary of Vedanta Resources Plc.

The reorganization plan, filed in the U.S. Bankruptcy Court for the Southern District of Texas, also contains the framework of agreements that Asarco is formulating with its principal creditors.

“This plan will allow the company to emerge from bankruptcy in a manner that is fair to all constituencies and puts Asarco’s assets under ownership of a...
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