"Sterlite ups Asarco bid by $500 m" and Asbestos Creditors have a put-option ("bet") in place

Mumbai, Aug 20

"...The revised bid will be $2.1 billion in cash. While there is an increase in the cash consideration, Sterlite will receive about 72.5 per cent interest in the Litigation Trust, to be set up by the ‘Debtors in Possession’ (Asarco), at the closing of the transaction consequent to a US court judgment against Americas Mining Corporation, the company said.   The nine-year copper price participation note of $207.9 million and a put option granted to the Asbestos creditors against their share of 27 per cent litigation interest remain unchanged.   The move follows Grupo Mexico announcement that it would raise its offer to $2.2 billion in cash, in addition to a $280 million note, an increase of about $500 million over its previous offer..."

http://www.thehindubusinessline.com/2009/08/21/stories/2009082152180100.htm

Possible striking workers

Google News Alert for: asarco

Grupo Mexico Says It Hasn't Prepared for Steelworkers Strike Bloomberg The United Steelworkers of America union had said it would order a strike if Grupo Mexico takes back control of Asarco LLC without first negotiating a new ... See all stories on this topic

---

Beryllium

Protection didn't work

"Protection didn't work. So 25 workers poisoned by beryllium now risk death. (

image) David Sanders, The Arizona Daily Star Two don protective clothing, ..."
www.azstarnet.com/beryllium/0509n14.html

"Panama Canal Project Gets Surety Bond"

This is the project that is going head-to-head with the Punta Colonet seaport project that Grupo Mexico (Carlyle owns 20%) wants to win-a-bid for --- Grupo Mexico wants to win a 50 year lease to run the seaport and also to run the freight along its Ferromex/UP rail line up through Santa Teresa less than 15 miles from the ASARCO El PASO Toxic waste site...

"by admin on August 19, 2009

In conjunction with the projects broker Marsh Zurichs Surety Credit and Political Risk group is providing a surety bond for the Panama Canal expansion project one of the largest projects ever bonded by Zurich More here: Panama Canal Project Gets Surety Bond http://institutionalpartners.com/2009/08/panama-canal-project-gets-surety-bond/"

SAIC - the company that did the EPA testing for ASARCO EL PASO TEXAS in the 1990's when the TCEQ said this kind of testing was "outside their [the TCEQ's] jurisdiction"

http://www.pr-inside.com/print1409455.htm

"2009-07-27 18:47:07 - An investigation on behalf of former and current employees, who participated in the company plan of SAIC, Inc in regards to a lawsuit by a former employee, later joined by the Department of Justice alleging SAIC rigged $3.2B contract – The contract was awarded to SAIC in April 2004 and Galloway's company Applied Enterprise Solutions became a subcontractor for SAIC, according to the suit. According to the government, in October 2006, after being notified of Department of Justice's investigation, Adamec put all of his office documents relating to the NCCIPS in burn bags and gave instructions to his staff to do the same. The government claims he also instructed Knesel to have the hard drive and all backup disks to his computer destroyed."

Industrial outgassing hurting our oceans

Harbinger Capital Group, Asarco, and the still-secret wastes illegally burned in El Paso TX and E. Helena MT

“The general unsecured creditors who would be paid in full include bondholders Harbinger Capital Partners Master Fund I Ltd. and government agencies charged with cleaning up pollution at Asarco’s mining sites. They have supported Sterlite’s previous plans The case is In re Asarco LLC, 05-21207, U.S. Bankruptcy Court, Southern District of Texas (Corpus Christi)." http://www.bloomberg.com/apps/news?pid=20601086&sid=ae_7kL3zfSRg

Soon after the NYTimes released the 1998-confidential-for-settlement-purposes-only-document from the EPA to the Federal DOJ about ASARCO in 2006, Harbinger threw 500 million dollars at the NYTimes in an effort to take over its Board of Directors.   Harbinger failed, and lost 75% of that money.    The richest man in Mexico then gave the NYTimes a loan (Carlos Slim).  The people who released that document have suffered non-renewal, firings, eviction and more.

The document details how ASARCO handled and burned unmanifested and secret toxic-wastes for profit for nearly a decade in the 1990's.   Rep. Reyes (Chair of the House Intelligence Committee) later commented that ASARCO had paid millions on the condition that the details of what it had done would NEVER become public. 

Now the secret was out.   But Asarco, the court, the EPA, the DOJ, the TCEQ and the NMED then proceeded to act as if the document was still confidential, and that the illegal incineration of only-god-knows-what never happened.  They proceeded to keep the details from the public.

They are still acting this way.

But the document is PUBLIC, and we know that the EPA told the DOJ that Asarco had burned unmanifested wastes for years, for profit.  

How long do these conflicted officials and Asarco believe that they can continue to keep this "secret" secret?  They sent materials from Rocky Flats Plutonium site to El Paso for disposal, the grapevine to the EPA in CO tells us.   We know that they sent Rocky Mt. arsenal and Tooele UT wastes here.   We also know that the EPA reported that the Beta-Radiation levels in El Paso TX just before ASARCO shut down were the highest in the United States of America.  Just three months before that, the Texas Environmental Quality group suddenly decided to 'throw in the towel' and not establish a nuclear dump 100 miles from El Paso TX at Sierra Blanca Texas...  what were they afraid of?  Media/press attention to local nuclear and radiation issues was international at that time -- and had the media found out that ASARCO had released radiative material through its stacks the community outrage would have been intense.

What on God's earth did they expose us to, here?   Rare cancers appear rampant here - especially those of the brain, the throat and nasal cavity.  Children born to women who lived along the river in the 1990's had horrible teratogenic birth defects.   It is common to know a young mother with a child whose skull is completely fused.  Even the Federal State Dept. in 3/2005 said that Federal Workers next to the Asarco stack at the IBWC American dam site were sick, it was not their imagination and that they could not get independent medical review in the entire region.

The International La Paz Accord Joint Advisory Committee agreed in a resolution a year ago that chemical-background testing needs done.  Nothing has happened despite this group being chaired by the EPA.

Meanwhile we live next to the smelter, we remain sick, and after five years of research we are no closer to the facts and the truth of what dioxin, pcb, polonium, mercury and metals-isotopes are out there around the site than we were before.  The TCEQ and ASARCO recently *refused* to share split-samples with a long-standing and respected community group.

It is appalling and this Mexican-American Community deserves better.  When will our nation's top officials take honest action to help this community and to ensure honest oversight of the Asarco bankruptcy through its DOJ trustee??

Fraudulent concealment of the unmanifested toxic-wastes burned by ASARCO continues....

The bids roll in, and the bankruptcy court, the EPA and the DOJ continue to ignore the now-public EPA-DOJ Asarco confidential-for-settlement-purposes-only document (1998) that a DOJ Attorney released to the public in 2006:

Why is this allowed to happen in our Bankruptcy Court?  Why can't the new DOJ Administration do something about this?   The secret unmanifested toxic-wastes from both military and industrial sources burned by Asarco in El Paso TX and E. Helena MT for nearly ten years IS STILL BEING IGNORED by the bankruptcy proceedings.  

As Rep. Reyes said, ASARCO paid MILLIONS on the condition that details of what it had done would never become public.  Apparently the DOJ, the EPA and Asarco all want to pretend that someone honest in the DOJ never made that confidential-for-settlement-purposes-only document PUBLIC.

The Bankruptcy court is NOT considering the liabilities to Asarco from the years Asarco burned secret military wastes for profit.  And the EPA is not testing for the poisons that would remain here from those illegal activities.

But the bids for Asarco heat-up as the Bankruptcy winds to a close, and the bottom-line of Asarco is being "cleaned up".

Carlye Group owns 20% of Grupo Mexico (who controls Ferromex/UP railroad that will put a new international line through the port of entry just next door to the old ASARCO stacks) and Carlye owns CSX railroad along the USA 300-mile wide eastern seaboard.   Top executive(s) for the founder of Verde group now run Carlyle USA realty group.

What is coming down, here? 

Google News Alert for: asarco

Sterlite Matches Grupo Mexico Offer on Asarco Debts Bloomberg Under the plan, Sterlite would guarantee to pay unsecured debts of Asarco LLC that are ultimately considered legitimate by US Bankruptcy Judge Richard ... See all stories on this topic

Fraud at East Helena MT ASARCO

-------- Original Message --------

Subject:	Fraud at East Helena MT ASARCO
Date:	Tue, 18 Aug 2009 19:27:12 -0600
To:	wardell.john[at]epa.gov, jackson.lisa[at]epa.gov, AskDOJ[at]usdoj.gov, thornton.wood[at]oag.state.tx.us, Kevin McCalla <KMCCALLA[at]tceq.state.tx.us>

To:  John Wardell
Fr:   m.s. biological sciences
sb:   The ASARCO stack demolition (http://www.helenair.com/video/#vmix_media_id=5631232) and concealment of the toxic waste

How could the EPA calmly talk about the East Helena ASARCO stack demolition when frauding the community?   The EPA has ignored the unmanifested/secret toxic wastes that the EPA notified the DOJ (1998) in a confidential-for-settlement-only-document had been handled and burned at Asarco El Paso TX and East Helena (see http://archives.newspapertree.com/Asarco/asarco_1998_memo.pdf )

That DOJ document is no longer confidential -- it is a PUBLIC document, and the EPA should act as if this information is now public.

The video (http://www.helenair.com/video/#vmix_media_id=5631232) shows the massive dust-cloud raised by the ASARCO stacks-demolition.  The still-concealed and secret (unmanifested) toxic wastes would have been in that dust, and likely have been spread around the small town in nano-particulates (smaller than PM2.5's). 

The EPA is responsible for the protection of this community, and in my opinion has failed East Helena.

We suspect that Asarco El Paso handled Rocky Flats plutonium site wastes; and, we know for a fact that Asarco El Paso (and likely Helena) handled Rocky Mt. Arsenal materials.  The EPA-DOJ document (above) lists many more of the (known) sources -- a lot of it was unmanifested and secret.

The Beta-radiation levels in El Paso Texas right before ASARCO closed were the highest in the U.S.A.  

It was irresponsible to take down those stacks without disclosure of what ASARCO left in our communities from the nearly ten-years of secret toxic-waste burning.  Cleveland Wrecking executives were notified before the stacks came down, and still went through with this action.

Turning point: Asarco plant demolition ends an era Trading Markets (press release) They knew the plant was being dismantled, but the stacks coming down were an in-your-face reality check that Asarco is history. ... See all stories on this topic

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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."
http://www.cbspevc.com/site/aggregator/sources/2?page=2

Robert Jay Moore was "Proposed Counsel for Official Committee of Unsecured Creditors of Lehman Brothers Holdings Inc." (see http://amlawdaily.typepad.com/Milbank.pdf) ..."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."
http://www.newsmeat.com/news/meat.php?articleId=56902808&channelId=2951&buyerId=newsmeatcom&buid=3281

Grupo Mexico (20 % owned by the Carlyle Group -- and which controls Ferromex/UP railroad )

Google News Alert for: asarco

Grupo Mexico Raises Cash Offer for Asarco to $2.2B New York Times By AP DENVER (AP) -- A Mexican mining company raised its offer for Asarco LLC to $2.2 billion in cash Monday in an attempt to wrest control of the bankrupt ... See all stories on this topic

Investor who controls a Swiss Bank called ASARCO "facing foreclosure seeks protection from creditors"

http://www.chicagobusiness.com/cgi-bin/news.pl?id=34626

"Foreign investor Mikhail Katamanin, who in May was hit with a $12-million foreclosure lawsuit on his Highland Park mansion, filed a personal bankruptcy petition June 6 in U.S. Bankruptcy Court in Chicago. The little-known investor listed assets of $1 million to $10 million and liabilities of between $10 million and $50 million, according to the filing. His debts are described as “primarily consumer,” and the list of creditors includes Atlantis at Paradise Island Resort & Casino in the Bahamas, Caesars Palace Las Vegas Hotel & Casino and Trump Taj Mahal Casino Hotel in Atlantic City. Chicago lawyer Kori Bazanos, who represents Mr. Katamanin, declined to comment.

Related story: Lender asserts claim on lakefront mansion " (follows below)

"May 19, 2009

By Samantha Sleevi

Lender asserts claim on lakefront mansion

(Crain’s) — A Caribbean investment company has sued to collect on a $12-million loan to a little-known investor, asking the court to put a lien on a lakefront mansion in Highland Park.

Foreign investor Mikhail Katamanin took out the short-term loan in March 2008 from Plymouth Consultants Ltd., which is based in the British Virgin Islands, according to a complaint Plymouth filed May 1 in Lake County Circuit Court. The loan, which initially charged 15% interest, wasn’t paid off when it came due Jan. 7, Plymouth alleges.

Mr. Katamanin failed to put up as security a nearly 7,000-square-foot home at 975 Sheridan Road, as required by the loan, the complaint says. As a result, Plymouth is asking for a court-ordered lien on the two-story house, which has 4½ bathrooms, two fireplaces and a brick exterior, according to the Lake County Assessor.

The reason for the loan is not disclosed in the complaint. John F. Kennedy, a partner with Chicago firm Shefsky & Froelich Ltd., which represents Plymouth, declined to comment.

The property is held in trust by Swiss company Asarco A.G.[this BANK lists Asarco llc and Asarco SA under its nomiker], which Mr. Mikhail controls, according to the complaint and public records.

Mr. Katamanin lives next door, at 985 Sheridan Road, a 10,555-square-foot mansion with 5½ bathrooms, two fireplaces, a pool and a stucco exterior, according to the assessor.

Mr. Katamanin did not return calls requesting comment. Northbrook lawyer Irving Drobny, who represents Asarco, is out of the country until next week, according to employees at his office.[Irving Drobny also represents the Royal Family of Vietnam]

Mr. Katamanin has made two interest payments totaling about $1.67 million, according to the complaint.

The claim also is to be arbitrated in Switzerland, according to the complaint."

Greenfield environmental Trust Group is trustee for the East Helena site (also burned the secret-stuff)

In Montana (like here) Asarco is transferring the deed to the still secret-toxic-wastes to the PUBLIC.  (WAKE UP EL PASO!!!!!)   And they plan to sell off parcels (sound familiar?) and even talked about using the ground-up slag for sand-traps at their golf-course ...
http://www.missoulian.com/news/state-and-regional/article_fda17544-8aa5-11de-9003-001cc4c03286.html

"Wardell is optimistic of future redevelopment too, especially once the bankruptcy proceedings end and it's clear who owns Asarco. A legal agreement already has been reached - but won't be instituted until the bankruptcy is completed - that the Asarco-owned lands in Montana will be deeded to a custodial trust, owned by the public and managed by the Boston-based Greenfield Environmental Trust Group.

The group can sell the lands, including parcels that create a band of currently unusable property around East Helena that has stymied expansion of the community. Money from the sale would go back into the custodial trust, and used to pay for some remediation costs - including underground arsenic and selenium plumes - plus the cost of administering the trust.

In addition, the court-approved settlement calls for $5 million in compensatory fees to be put into a separate trust and used for things like wildlife improvement projects or acquisitions for recreational purposes in the East Helena area."

see
http://archives.newspapertree.com/Asarco/asarco_1998_memo.pdf

for more information about what they are all covering-up.... the details of what they did are still being covered-up and the public still needs to know what chemicals are involved

Helena Stack were demolished , and the Secret Toxic wastes remain secret

http://www.missoulian.com/news/state-and-regional/article_fda17544-8aa5-11de-9003-001cc4c03286.html


-------- Original Message --------

Subject:	East Helena Stack demolition -- important information for Cleveland Wrecking Co.
Date:	Tue, 11 Aug 2009 13:14:33 -0600
To:	Jim_Sheridan[at]urscorp.com
CC:	AskDOJ[at]usdoj.gov, thornton.wood[at]oag.state.tx.us, jackson.lisap[at]epa.gov, john.harrington[at]helenair.com, Diana Washington Valdez <dvaldez[at]elpasotimes.com>, dcrowder[at]epmediagroup.com, Piper.Bonnie[at]epamail.epa.gov, Bill_Torres[at]urscorp.com, Joe_LeClair[at]urscorp.com, Steve_Sheridan[at]urscorp.com

To:  Mr. Sheridan, President of Cleveland Wrecking Co.
Fr: 

Please look through this formerly-confidential-for-settlement-purposes-only EPA document to the Federal Dept. of Justice written in 1998 and kept secret until 2006:  http://archives.newspapertree.com/Asarco/asarco_1998_memo.pdf

This document will let you know that the EPA said ASARCO secretly burned illegal toxic wastes for profit for nearly ten years and that some of that went to the ASARCO Helena smelter. 

This settlement-document is now a public document; but, Asarco and the EPA/DOJ are continuing to act as if this document never was released, and that the illegal near-decade of unmanifested-waste-burning never happened.  Rep. Reyes (Chair, House intelligence committee) was quoted saying that Asarco paid millions of dollars on the condition that details of what it had done would never become public.

Your workers will be exposed to whatever chemicals have been left in that community from ASARCO's illegal activity -- and it could contain anything -- some of those sources you will see in that document are military, some are industrial.    The wastes Asarco secretly burned and handled were unmanifested and could have contained anything:  actinides (radioactive alpha particles or other particles), dioxins, pcb's, polonium, etc.   The EPA has never revealed what these chemical-values are for the community.

The stacks should not come down, in my opinion, until the EPA does independent-stack-sampling of the residues left inside the stacks from ASARCO's illegal activities; and, until all workers are equipped with white-haz-mat suits with independent-oxygen-support.    Even with that done, the demolition of the stacks will potentially expose the community to the secret chemical wastes, in the resulting dusts.   And, that demolition-waste should not go to any landfills without the EPA, ASARCO and the DOJ revealing to us what is in that waste.

I feel that your company should have been notified about this document, and that you should not demolish the stacks without the facts in front of you.