Asarco Resolves Environmental Claims For $1.75M

Law360, New York (May 19, 2010, 1:26 PM EDT) -- Formerly bankrupt mining and metals giant Asarco LLP has agreed to pay $1.75 million to resolve claims related to a 1995 settlement in Texas involving the company's liability for environmental damage.

Asarco on Tuesday asked the U.S. Bankruptcy Court for the Southern District of Texas to approve the settlement, saying it is fair and equitable and in the best interests of the company and its creditors.

The underlying dispute involves a 1995 settlement resolving a case filed in Texas state court against Asarco, Encycle Inc. and...
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