Asarco Parent Moves To Block Cleanup Settlement

Law360, New York (July 27, 2007, 12:00 AM EDT) -- Asarco LLC's parent company has moved to block the miner's proposed $35.3 million settlement with federal and state officials over a mining site cleanup, arguing it does not serve the best interests of its creditors, only those of its law firm, Baker Botts LLP.

Asarco struck a deal with the U.S. Department of Justice, the Colorado Department of Public Health & Environment and Newmont Mining Co. earlier this month, agreeing to pay the three to fund cleanup of the expansive California Gulch Superfund in Leadville, Colo....
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