Asarco To Sell Polluted NJ Property For $1

Law360, New York (November 10, 2009, 12:47 PM EST) -- Asarco LLC has earned approval to sell off a vacant property that once housed a zinc processing facility to the city of Trenton, N.J., for $1, allowing the bankrupt mining giant to untangle itself from current and future liabilities involving the remediation of the now-contaminated site.

Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas signed off on the agreement between Asarco and the New Jersey Department of Environmental Protection Monday as part of a plan to dispose of the...
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