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

Tuesday, March 17, 2009

20090317 UPDATE 1-Asarco files reorganization plan March 16'th

"Google News Alert for: asarco Asarco files reorganization plan for Sterlite sale"

"Reuters - USA Tue Mar 17, 2009 12:30pm EDT By Emily Chasan

NEW YORK, March 17 (Reuters) - Bankrupt U.S. copper miner Asarco LLC has filed a new bankruptcy reorganization plan that proposes how the company will reorganize itself under a $1.7 billion deal with India's Sterlite Industries ......

Under the reorganization plan filed with the court late on Monday, Asarco said it plans to pay administrative claims, priority tax claims, priority claims, secured claims and convenience claims." [what about Toxic waste??]

"Asarco creditors holding general unsecured claims and unsecured asbestos personal injury claims will be entitled to vote on whether to accept the reorganization plan, according to court papers....

The case is In re: Asarco LLC, U.S. Bankruptcy Court, Southern District of Texas, No. 05-21207. (Editing by Andre Grenon"

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