Asarco facing liability claims of $21.6 billion
Nov 29, 2006 | 10:50 AM
| Sean Barry
Asarco LLC faces claims totaling $21.6 billion, according to a new tally of its liabilities as it struggles to emerge from Chapter 11 bankruptcy protection.
The claims against the Tucson, Ariz.,-based company include secured and unsecured creditors and asbestos claimants, as well as environmental liabilities. Asarco's debt and potential liabilities were estimated at $1.9 billion shortly after it filed for bankruptcy protection from creditors in August last year.
Unsecured creditors account for the largest proportion of debtors, with claims totaling $20.5 billion, the latest figures show.....
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