In 1981, Bendix sold its ASARCO
stock to reduce its investment in natural resource businesses and to realize the appreciation in the value of the stock; the sale resulted in more than $200 million in capital gain.
Today marks the beginning of a new chapter for ASARCO
and Grupo Mexico," said Jorge Lazalde, vice president and general counsel of ASARCO
Woolworth, the Court applied Mobil's underlying unitary standard in the same manner as in ASARCO
by focusing on whether there was functional integration between the taxpayer-parent and the nontaxpayer subsidiaries.
The Court issued a channeling injunction that permanently resolves and enjoins all present and future asbestos-related claims against ASARCO
LLC, its subsidiaries and non-debtor affiliates such as ASARCO
's direct and indirect parent companies.
Hanen has approved the full payment reorganization plan proposed by GMEXICO for ASARCO
LLC, reintegrating the U.
The judge's recommendation proposes that the federal district court approve the parent companies' plan rather than the one filed by the debtor, ASARCO
LLC and its sponsor, Sterlite (USA), Inc.
Bankruptcy Court Judge Richard Schmidt has recommended confirmation of its full payment reorganization plan for ASARCO
AMC has been seeking to reclaim full equity ownership of its indirect wholly-owned subsidiary ASARCO
LLC since it filed for Chapter 11 protection in August 2005.
3 billion in cash and a $250 million fully-committed loan to ASARCO
As restitution, the judge ordered that AMC return to ASARCO
260,093,694 shares of Southern Copper Corporation stock, which based on Wednesday's closing price is worth approximately $4.
Upon closing, ASARCO
will release Sterlite from any claims arising out of the first purchase and sale agreement signed in May 2008.
25 million cash payable to ASARCO
at closing ($1 million from the Rosemont Ranch defendants and $250,000 from Augusta Resources), plus $9 million over 8 years from Augusta Resources, payable from profits of production and subject to an option, which if exercised, would require Augusta Resources to pay ASARCO
the net present value of such payments in cash.