U.S. District Court Judge Andrew Hanen, on Nov. 13, 2009, issued his opinion and order confirming the reorganization plan sponsored by ASARCO Incorporated and Americas Mining Corporation, parent companies of ASARCO LLC, according to an Asarco press release dated Nov.…
Southern Copper Corporation’s direct and indirect parent corporations, including Americas Mining Corporation and Grupo Mexico S.A.B. de C.V., continue to be parties to litigation (including asbestos-related) involving Asarco LLC.
In August 2002, the U.S. Department of Justice brought a claim alleging…
Grupo Mexico S.A.B. de C.V., in court papers, said that it agreed to pay US$1.46 billion in cash plus a US$280 million note to regain control of Asarco LLC, Bloomberg reports.
The case is styled In re Asarco LLC, 05-21207, U.S.…
In a ruling dated June 20, 2009, the law firm of Anderson Kill & Olick PC says that a court in Texas allowed ASARCO LLC to pursue a claim for recovery of millions of dollars in legal expenses stemming from…
The Wall Street Journal, on June 14, 2009, reported that Vedanta Resources PLC will increase the note portion of its offer to take Asarco LLC out of bankruptcy, Reuters reports.
The Journal reported that Sterlite Industries, a Vedanta subsidiary, will increase…
Grupo Mexico S.A.B. de C.V., on June 2, 2009, said it is offering US$2.9 billion to take its U.S.-based copper unit, Asarco LLC, out of Chapter 11 bankruptcy, The Wall Street Journal reports.
In the 1930s, Grupo Mexico acquired control of…
A Harbinger Capital Partners affiliate, on May 26, 2009, won court approval to try to reorganize Asarco LLC, making the hedge-fund manager the third group trying to take over the bankrupt copper miner, Bloomberg reports.
On May 26, 2009, U.S. Bankruptcy…
The Mesothelioma & Asbestos Awareness Center said that it expects that Grupo Mexico S.A.B. de C.V. will appeal an asbestos- and environmental-related ruling in favor of its subsidiary ASARCO LLC.
Asarco, an Arizona-based mining and smelting company, filed for bankruptcy in…
Judge J. Manuel Banales of the 105th Judicial District Court of Nueces County, Tex., ruled that Asarco LLC’s insurance policies exclude only asbestosis claims and not other asbestos-related diseases, Reuters reports.
The ruling paves the way for Asarco to seek US$60…