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Monday, August 17, 2009

Asarco attorney represented creditors against Lehman Brothers, including METLIFE (whose CEO now runs the bailed out AIG Insurance Company)

"Grupo Mexico sweetens its bid for Asarco

Tue, 08/11/2009 - 5:30pm
The parent of Asarco LLC has raised its bid yet again for the bankrupt copper mining company, this time to $2 billion, by increasing the amount of cash it contains to $1.72 billion. Under the plan proposed by two units of Grupo México SAB de CV, Asarco Inc. and Americas Mining Corp., the parent increased the cash portion of its bid $257.5 million to $1.72 billion from $1.4625 billion, according to Grupo México's attorney, Robert Jay Moore of Milbank, Tweed, Hadley & McCloy LLP. This is a free content preview."

Robert Jay Moore was "Proposed Counsel for Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc." (see ..."On September 17, 2008, the United States Trustee filed the Appointment of Committee of Unsecured Creditors (docket no. 62), and thereby appointed the Creditors’ Committee consisting of:
(i) Wilmington Trust Company, as Indenture Trustee;
(ii) The Bank of NY Mellon;
(iii) Shinsei Bank, Limited;
(iv) Mizuho Corporate Bank, Ltd., as Agent;
(v) The Royal Bank of Scotland, PLC;
(vi) Metlife; and
(vii) RR Donnelley & Sons.

On September 17, 2008, the Creditors’ Committee duly selected Milbank as counsel to represent it during the pendency of the Debtors’ chapter 11 cases. RR Donnelley & Sons and The Royal Bank of Scotland, plc subsequently resigned as members of the Committee and on October 3, 2008, the United States Trustee filed the First Amended Appointment of Committee of Unsecured Creditors (docket no. 592) appointing The Vanguard Group Inc. and Aegon USA Investment Management as additional members of the Committee."

Benmosche, a former MetLife Inc. chairman and CEO, was named president and CEO of AIG on Aug. 3 [2009]. He replaced CEO Edward Liddy, former CEO of Allstate Corp., who took over last fall after the government rescued the New York-based insurer."

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