US Gov't, States Lose Asarco Cost Claims

Law360, New York (September 29, 2010, 7:00 PM EDT) -- A judge has denied substantial contribution claims that the U.S. government, three states and majority bondholders lodged in the Asarco LLC Chapter 11 case as they sought to recover more than $22 million in fees and expenses associated with the mining giant's bankruptcy.

Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas on Wednesday rejected the applications of the U.S. Department of Justice, Texas, Washington and Montana to recoup more than $6 million for the cost of working to settle...
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