Asarco Balks At $468M Cleanup Settlement

Law360, New York (March 25, 2008, 12:00 AM EDT) -- Asarco Inc. has filed a formal objection to a settlement reached by one of its subsidiaries regarding the cleanup of several mines in southeastern Missouri, claiming the settlement amount is extravagant and unrealistic.

Asarco's objection, filed Monday in the U.S. Bankruptcy Court for the Southern District of Texas, claims the settlement by subsidiary Asarco LLC, the United States government, the state of Missouri, the Doe Run Co. and DR Land Holdings LLC overestimates the company's liability for three of the sites.

The objection said that the...
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