Judge OKs Asarco Cleanup Settlement

Law360, New York (August 24, 2007, 12:00 AM EDT) -- The bankruptcy judge overseeing Asarco LLC's Chapter 11 case has given the nod to a $31 million settlement between the copper mining company and government environment officials over cleanup at its hazardous California Gulch smelter site.

Ruling the settlement was in the best interests of Asarco and its creditors, Texas bankruptcy court Judge Richard Schmidt on Thursday signed off on the agreement, which resolves future liabilities and costs at the Asarco unit known as California Gulch in Leadville, Colo.

The beleaguered company, plagued by environmental and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.