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...
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