Friday, July 20, 2007
12.5 million instead of 200 million... @ 5% of estimated liability
"...Experts for Asarco estimated the company's liabilities would have been $14 million, far less than the U.S. estimate of more than $200 million. Under the settlement, the company will pay $12.5 million to Colorado and the United States. Shelby Jordan, a lawyer for Asarco with Jordan, Hyden, Womble, Culbreth & Holzer in Corpus Christi, didn't return a call for comment. U.S. Bankruptcy Judge Richard S. Schmidt in Corpus Christi is scheduled to hear Asarco's motion to approve the settlement next Friday...."
Posted by Elpaso at Friday, July 20, 2007