Bondholders Ask For Limits On Asarco's Extensions

Law360, New York (February 8, 2008, 12:00 AM EST) -- Impatient with Asarco LLC's continued motions to extend exclusivity over its bankruptcy proceedings, the majority bondholders in the company's Chapter 11 case asked the court Thursday to grant Asarco newest motion only if it is the last.

The mining company asked the judge for yet another extension allowing it to exclusively file its Chapter 11 plan in January, saying that it needed more time to haggle with creditors over outstanding liabilities.

The extension would be the company's ninth such continuance.

But the bondholders complained on Thursday...
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.