"Horizon Lines' empty bankruptcy threat brings US DOJ to its knees....similarly EPA opted to take [x] claim in Asarco's Bankruptcy case...."

"Google Alert - asarco
Horizon Lines' empty bankruptcy threat brings US DoJ to its knees ...
Financial Times
Similarly, the EPA opted to take a USD 1.7bn repayment on its USD 6.5bn environmental remediation claim in Asarco's bankruptcy case. ..."

http://www.ft.com/cms/s/2/4f212e9c-7c6b-11e0-b9e3-00144feabdc0.html#ixzz1M7sbEKBu

"...The DoJ’s value give-up in Horizon mirrors the compromise the Environmental Protection Agency (EPA), a secured creditor, cut with unsecured hedge fund creditors in chemical company Tronox last year....

Rather than battle bondholders for more cash, the EPA agreed to take massive losses on its structurally senior claims. The Oklahoma-based company’s unsecured bondholders walked away with equity worth more than double the face value of their bond claims, while the EPA was left with a 30% recovery.

Similarly.... [the ASARCO] Arizona, US-based copper miner’s bondholders received 100% recovery on their claims, as well as accrued interest, when the company emerged from Chapter 11 in December 2009, while the sponsor, Grupo Mexico, continued to own its assets....""

Asarco 1999 Settlement with Denver CO gives another $126,484.90 to 107 people while EL PASO TEXAS COMMUNITY suffers silently

"Residents of south Globeville are receiving an additional $126,484.90 from Asarco mining company for contaminating their properties with arsenic and other pollutants, according to a press release from the attorneys who represented the residents.....The additional payments are part of a $12.3 million settlement the residents reached with Asarco in 1999....[also] South Globeville residents filed a class-action lawsuit in 2007 against Asarco when high levels of toxic contamination were found on properties. Asarco released arsenic as a stack emission from its Globe Plant smeltering facility for about 70 years starting in the 1920s."

Mitchell Byars: 303-954-1698 or mbyars@denverpost.com

South Globeville residents get additional money from Asarco settlement