Asarco Asks for Approval of Settlements over Mining Sites
Asarco LLC has asked the court overseeing its chapter 11 to approve two settlement agreements that would resolve claims from Washington state, Montana and the U.S. Environmental Protection Agency in exchange for more than $46 million in allowed general unsecured claims, Bankruptcy Law360 reported on Friday. The settlement would resolve their dispute with Asarco over a mine site covering about 15 square miles in the Lewis and Clark National Forest in Montana. The state filed a proof of claim in the Asarco bankruptcy case for past and future response costs connected to the site. The EPA didn’t file a claim, but said it expects to incur response costs at the site and could seek to file a late proof of claim. Asarco also filed a motion seeking approval of the deal with the state of Washington and the Port of Everett, where Asarco operated a smelter in the early 1900s.

