ASARCO: The Estimation Of Environmental Claims

Law360, New York (January 13, 2009, 12:00 AM EST) -- The Chapter 11 bankruptcy case of ASARCO LLC (“ASARCO”) has been described by the federal government as one of the most complex reorganization cases on record, from an environmental standpoint.

Non-duplicative environmental claims totaling $6.5 billion and relating to nearly 100 sites were filed by the federal government, state governments, Indian tribes and private parties. Before ASARCO could formulate a plan of reorganization, the amount of these claims had to be resolved.

ASARCO, in consultation with unsecured creditors’ committee counsel and the various environmental claimants, and...
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