Asarco Asks To Sell Assets To Aid Reorganization

Law360, New York (February 5, 2008, 12:00 AM EST) -- Bankrupt copper mining company Asarco LLC has asked for court approval of a bidding process to sell nearly all of its assets, which it said would form a key part of a reorganization plan it has worked out with its largest creditors.

The company “has reached an agreement in principle with its creditor constituents who hold the overwhelming majority of its claims on the structure of a plan of reorganization,” according to the motion, filed Monday in the U.S. Bankruptcy Court for the Southern District of...
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