Asarco judge backs Grupo Mexico plan (Dealscape

A Texas judge has recommended confirnation of the plan proposed by the parent of bankrupt Asarco LLC and denial of the the one advanced by the debtor, noting that the higher value promised by the former trumped the widespread creditor support for the latter.

In a 133-page opinion issued late Monday, Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas in Corpus Christi wrote that the plan proposed by Asarco's parent, Grupo México SAB de CV, is superior to the debtor's plan because it does not rely on recovery from litigation to pay its creditors.

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157 in-depth reports of Bankruptcies in the Metals sector
63 articles related to Grupo Mexico SAB de CV
52 in-depth reports of Reorganization plans in the Metals sector
24 in-depth transaction records for Asarco LLC
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NOT A SUBSCRIBER? Asarco judge backs Grupo Mexico plan Posted on September 1, 2009 2:38 PM A Texas judge has recommended confirnation of the plan proposed by the parent of bankrupt Asarco LLC and denial of the the one advanced by the debtor, noting that the higher value promised by the former trumped the widespread creditor support for the latter. In a 133-page opinion issued late Monday, Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas in Corpus Christi wrote that the plan proposed by Asarco's parent, Grupo México SAB de CV, is superior to the debtor's plan because it does not rely on recovery from litigation to pay its creditors. This is a free content preview. Subscribers enjoy access to all stories in full as well as second-to-none market intelligence. Dig deeper, with Pipeline. 157 in-depth reports of Bankruptcies in the Metals sector 63 articles related to Grupo Mexico SAB de CV 52 in-depth reports of Reorganization plans in the Metals sector 24 in-depth transaction records for Asarco LLC 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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