Asarco Judge Picks Parent Cos.' Reorganization Plan

Law360, New York (November 16, 2009, 6:02 PM EST) -- After a grueling fight that has spanned many years and multiple courts, a district court judge has handed Asarco LLC back to its parent companies and put an end to the copper giant's stint in Chapter 11, as well as its asbestos liabilities.

On Friday, Judge Andrew Hanen of the U.S. District Court for the Southern District of Texas confirmed the reorganization plan sponsored by Asarco Inc. and Americas Mining Corp., casting aside a rival offer from Sterlite Industries Ltd. and the debtor itself.

“This court...
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