Asarco Wants Court OK For Northwest Settlements

Law360, New York (February 22, 2008, 12:00 AM EST) -- Asarco LLC has asked the court overseeing its Chapter 11 to approve two settlement agreements that would resolve claims from the state of Washington, the state of Montana and the U.S. Environmental Protection Agency in exchange for more than $46 million in allowed general unsecured claims.

On Friday, Asarco asked U.S. Bankruptcy Judge Richard S. Schmidt to approve a deal under which Montana would get a $7.1 million claim and the EPA would get a $1 million claim.

The settlement would resolve their dispute with Asarco...
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