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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.