Search This Blog



"THE ONLY THING NECESSARY FOR THE TRIUMPH OF EVIL IS FOR GOOD MEN TO DO NOTHING"
--Burke

Thursday, August 2, 2007

Asarco investors appeal judge's ruling

Arizona Daily Star

Tucson, Arizona Published: 08.02.2007

Two investors in bankrupt copper producer Asarco LLC are taking an appeal to the U.S. district court on a ruling in July by the bankruptcy judge giving Tucson-based Asarco another 90 days when no one else may file a reorganization plan, Bloomberg News reported.
Saying they hold two-thirds of unsecured bonds and debentures issued by Asarco, Harbinger Capital Partners Master Fund I and Citigroup Global Markets Inc. also are appealing rulings by U.S. Bankruptcy Judge Richard Schmidt preventing them from conducting financial research without signing a confidentiality agreement they said was too restrictive.
A trial is set for September to estimate the amount of asbestos claims that pushed Asarco into bankruptcy.
http://www.azstarnet.com/allheadlines/194583

No comments: