Asarco Creditors File Suit Execs
Associated Press 08.09.07, 6:09 PM ET
Creditors of mining company Asarco LLC have sued 13 insiders of parent Grupo Mexico, including its chief executive....
The creditors are seeking at least $100 million in damages plus additional punitive damages. They're accusing the executives of breach of fiduciary duty, corporate waste and unjust enrichment, among other charges.
The lawsuit names 13 officials - 12 Mexicans and one Arizona resident - who led Asarco after its acquisition by Grupo Mexico in 1999 [Asarco burned the illegal toxic waste in El Paso until at least 1998]. The group consists of several top Grupo Mexico officials, including the mining company's chief executive, German Larrea Mota-Velasco, who was also Asarco's chief executive....."