US court orders Sterlite to pay $83M to Asarco

Feb 17, 2012 | 04:46 AM |

A US bankruptcy court has ordered India’s Sterlite Industries to pay almost $83 million in damages to Asarco for pulling out of a deal to acquire the copper mining company.
The bankruptcy court of the southern district of Texas ruled on February 13 that Asarco is entitled to a gross amount of $132.75 million in incidental damages, less the $50 million that was paid to Asarco in December 2009. This makes Asarco’s total entitlement a net $82.75 million. ....





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