Grupo Mexico Appeals Sterlite Bid Protections

Law360, New York (May 15, 2009, 12:00 AM EDT) -- The tug-of-war over the rights to Asarco LLC continues, with parent company Grupo Mexico SAB de CV protesting a bankruptcy court's apparent protection of Sterlite Industries Ltd.'s $1.7 billion bid to acquire the bankrupt copper mining unit.

On Thursday, Grupo Mexico units Asarco Inc. and Americas Mining Corp. appealed a decision handed down in April by the U.S. Bankruptcy Court for the District of Texas, giving the nod to the Vedanta Resources' unit's bid.

Grupo Mexico took issue in particular with U.S. Bankruptcy Judge Richard Schmidt...
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