Asarco $27.9M Settlement Deal Approved

Law360, New York (February 21, 2008, 12:00 AM EST) -- Claimants for property and personal injury damages connected to toxic Asarco LLC sites will now receive $27.9 million, after a bankruptcy judge signed off on the troubled mining company's settlement deals on Wednesday.

U.S. Bankruptcy Judge Richard S. Schmidt of the Southern District of Texas agreed that the settlement was in the best interests of Asarco, its creditors and its estate.

The mining, smelting and refining company filed a motion in late January asking Judge Schmidt to sign off on the settlement agreements, which arose from...
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