Asarco Exits 'Successful' Ch. 11 Plan

Law360, New York (December 10, 2009, 7:41 PM EST) -- More than four years after filing the largest environmental bankruptcy in U.S. history, facing down more tens of thousands of asbestos claims and coughing up $1.79 billion for cleanup and restoration, copper miner Asarco LLC has exited Chapter 11 protection, wrapping up bankruptcy proceedings a federal judge said ranked among the most successful in recent history.

Asarco emerged from bankruptcy on Wednesday, which marked the effective date of the Chapter 11 plan that Judge Andrew Hanen of the U.S. Bankruptcy Court for the Southern District of...
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