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Friday, August 10, 2007
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....."
miners may be alive. The rescuers don't know yet, as there hasn't been
sound from the trapped miners. Many prayers for the miners and their
families. It is good news that they have tried so hard to reach them.