Asarco Proposes Rate On Most Unsecured Claims

Law360, New York (November 2, 2007, 12:00 AM EDT) -- Having been granted a little more time to file a reorganization plan, Asarco LLC wants to pin down how much all future non-personal-injury unsecured claims against it will eventually amount to after the dust settles on its Chapter 11 proceedings and all claims mature.

The 108-year-old mining company filed a motion Thursday in the U.S. Bankruptcy Court for the Southern District of Texas asking the court to institute a 7% discount rate on all such future claims, with a base year of 2005, the year Asarco...
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