Asarco extension to file reorganization plan
Published on Friday, August 03, 2007
Bankrupt copper miner Asarco has been given an extension until Nov. 12 to finish resolving environmental issues dating back to 1983 and file a reorganization plan.
"The extension of exclusivity will allow Asarco time to complete its remaining restructuring efforts and continue what has thus far been constructive discussions with its constituent groups about various alternatives for emergence from Chapter 11," Joseph Lapinsky, CEO of Asarco, said in a statement.
Asarco is headquartered at 1150 N. Seventh Ave. It filed for bankruptcy protection in Corpus Christi, Texas, in 2005.