Grupo Mexico Moves To Regain Control Of Asarco

Law360, New York (August 27, 2008, 12:00 AM EDT) -- In a bid to regain control of its subsidiary Asarco LLC, Grupo Mexico SAB has filed a rival bankruptcy reorganization plan for the copper mining company as well as an objection to Asarco's distribution plans for environmental and asbestos claims.

The Mexican mining giant filed its plan and objection late Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas.

In its alternative reorganization plan, Grupo Mexico said that the $2.6 billion sale of Asarco's assets to a subsidiary of Indian mining company Vedanta...
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