Harbinger files its plan for buying Asarco
Published: 30 May 2009 18:36:49 PSTNEW YORK, May 28 - Harbinger Capital, one of Asarco LLC's largest bondholders, filed a plan this week with bankruptcy court for its own $500 million reorganization of the bankrupt U.S. copper miner, according to court documents.
Harbinger's plan is competing with India's Sterlite Industries and Asarco's parent Grupo Mexico for control of the company.
A court earlier this week told Harbinger it could submit the plan. A hearing is set for June 5 in which the judge could rule on the plan, court documents said.
Asarco, which filed for bankruptcy protection in 2005 amid more than $1 billion in environmental damage and asbestos claims, is seeking to sell its assets to Sterlite for $1.7 billion.
If you believe an article violates your rights or the rights of others, please contact us.
Digg
Reddit
Mixx it
FacebookRelated News
Most Read
- 1BYD Auto to expand into solar energy field
- 2Entrepreneurblues
- 3ANALYSIS-CFTC cautious on position limits, set
- 4AUTOSHOW-INTERVIEW-UPDATE 1-Changan Ford Mazda
- 5Beware of phishing scams if you are using
- 6Beyond The Anti-Virus Arms Race
- 7Help protect yourself from phishing scams and
- 8China Longyuan Power plans HK$17.5-bln HK IPO
- 9Acer's Mobile Gamble
- 10Foreign e-commerce market expands for DIY
