Court Gives Nod To Asarco Disclosure Statement

Law360, New York (September 24, 2008, 12:00 AM EDT) -- With another environmental settlement on the books, a bankruptcy court has granted preliminary approval both to Asarco LLC's disclosure statement and to a rival plan by Asarco's parent companies, allowing creditors to vote on the plans.

On Tuesday, the U.S. Bankruptcy Court in Texas tentatively approved Asarco's disclosure statement while signing off on a truce regarding an East Helena, Mont., site.

The mining company agreed to provide a $13 million unsecured claim for the U.S. Environmental Protection Agency regarding the East Helena site, which had been...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.