Asarco Seeks Court OK To Settle Missouri Claims

Law360, New York (March 4, 2008, 12:00 AM EST) -- Asarco LLC has asked the court overseeing the company's Chapter 11 proceedings to approve an environmental settlement under which the U.S. government, the state of Missouri and others will get more than $70 million in allowed general unsecured claims against the 108-year-old mining outfit.

Asarco filed a motion on Monday asking U.S. Bankruptcy Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas to sign off on the deal, which covers seven sites in southeastern Missouri relating to mines or smelters....
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