Insurer Objects To Grupo's Asarco Plan Disclosures

Law360, New York (June 1, 2009, 12:00 AM EDT) -- Insurance company Century Indemnity Co., which may be on the hook for asbestos and other liability claims in the case, has objected to the disclosure statement for a Chapter 11 exit plan for Asarco LLC filed by the bankrupt mining company’s parent, Grupo Mexico SAB.

The insurer lodged its objection Friday in the U.S. Bankruptcy Court for the Southern District of Texas, claiming that the Mexican parent company’s disclosure statement fails to provide adequate information regarding material aspects of the plan and should therefore not be...
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