Court OKs Asarco Asbestos Claimants Committee

Law360, New York (August 18, 2008, 12:00 AM EDT) -- A federal judge has agreed to the formation of an asbestos claimants committee to represent creditors with asbestos-specific claims in the sprawling bankruptcy suit of copper-mining company Asarco LLC.

Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas granted Asarco's motion Friday and ordered the U.S. trustee in charge of the case to appoint an asbestos claimants committee.

The new committee will be made up of members of the official committee of unsecured creditors for the subsidiary debtors and three new...
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