Asarco Gets More Time For Chapter 11 Plan

Law360, New York (October 5, 2006, 12:00 AM EDT) -- The federal judge overseeing Asarco LLC’s Chapter 11 proceedings has granted the 107-year-old copper mining company three more months to file and solicit support for its reorganization plan.

U.S. Bankruptcy Judge Richard S. Schmidt’s order, issued Tuesday, extends the exclusive period for Asarco to file a Chapter 11 plan until Jan. 5, 2007, and the exclusive period to solicit support for the plan until March 9, 2007. The deadlines for those periods to expire had previously been Oct. 6, 2006 and Dec. 8, 2006, respectively....
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