Poker game raises the bid -- but, what are the stakes?

"MEXICO CITY, June 2 (Reuters) - Copper miner Grupo Mexico said on Tuesday ....it would contribute $1.55 billion to Asarco, lifting the total amount of cash on hand in the Asarco estate available for distribution to its creditors to $2.9 billion."

http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSN0225032620090603

"Americas Mining Company, a Grupo Mexico Affiliate, Amends Reorganization Plan to Retain Equity Interest in ASARCO LLC"

"[June 2, 2009 Business Wire]....the competing plan under consideration by the Court, offered by India-based Vedanta, offers only $1.1 billion in cash and a non-interest bearing so-called “copper note,” which Vedanta values at $200 million, backstopped only by a $100 million letter of credit. As previously announced, AMC has funded an escrow with $1.3 billion to backstop its plan. A third plan, offered by Harbinger Capital Partners, amounts to $500 million in cash with interests in litigation against Vedanta and AMC that may never be realized...."
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20090602005819&newsLang=en