Judge nixes Grupo Mexico bid to re-assert control of Asarco

Nov 29, 2007 | 05:23 AM | Sean Barry

A division of Grupo Mexico SA de CV has lost another attempt to reclaim control of copper producer Asarco LLC, Tucson, Ariz.

Grupo Mexico had requested that Asarco, which filed for Chapter 11 bankruptcy protection in August 2005, obtain clearance from the Mexican company before entering into any settlements in excess of $10 million.

But after hearing evidence last week, Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas threw out the request.....

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