Asarco, Montana Bury Hatchet Over Toxic Site

Law360, New York (May 20, 2008, 12:00 AM EDT) -- After years of wrangling over environmental liabilities, Asarco LLC has reached a settlement with the state of Montana over a toxic site, marking the latest in a series of truces for the bankrupt mining and smelting company.

Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas signed off Friday on the agreement involving the upper Blackfoot mining complex. The approval pushes Asarco a step closer to a tentative June reorganization plan filing and subsequent Chapter 11 exit.

The compromise and settlement...
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