Parent Co. Owes Asarco $1B Plus Mine Shares: Judge

Law360, New York (April 15, 2009, 12:00 AM EDT) -- A judge has ordered a unit of mining giant Grupo Mexico SAB to fork over $1.38 billion in cash and a stake in lucrative Peruvian copper operations to Asarco LLC, in a case alleging Grupo fraudulently shifted the shares, tipping Asarco into bankruptcy.

On Wednesday, Judge Andrew Hanen of the U.S. District Court for the Southern District of Texas issued a final ruling for Asarco in its dispute with Grupo subsidiary Americas Mining Corp., declaring the company on the hook for the $1.38 billion cash payment...
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