Asarco Creditors Blast $2.6B Sale

Law360, New York (June 11, 2008, 12:00 AM EDT) -- Three of Asarco LLC's creditors have opposed the bankrupt mining company's proposed $2.6 billion sale of most of its assets to Sterlite Industries Ltd., joining Asarco parent Grupo Mexico SA de CV in demanding to know more about what is being sold and how.

Babson Capital Management LLC, two Harbinger Capital Investments LLC funds and the city of El Paso, Texas, each filed objections Tuesday to Asarco's June 2 motion for final approval of its bid protections in the U.S. Bankruptcy Court for the Southern District...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.