Asarco To Pay $33.4M In Toxic Cleanup Claims

Law360, New York (January 17, 2008, 12:00 AM EST) -- Bankrupt mining company Asarco LLC on Wednesday asked a judge to approve a settlement resolving disputes with the state of California and a subsidiary of ConocoPhillips over cleanup costs for a contaminated smelter site, allowing claims totaling almost $34 million.

The California Department of Toxic Substances Control would receive the bulk of the settlement, a general unsecured claim of about $33.4 million. The California State Lands Commission would receive a claim of $258,895, and ConocoPhillips subsidiary C.S. Land, which purchased the site in 1989, would receive...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.