Bankruptcy Judge Orders ASARCO To Pay Missouri $5 Million Settlement

Bankruptcy Judge Orders ASARCO To Pay Missouri $5 Million Settlement

CORPUS CHRISTI, Texas - Making the State of Missouri wait for a $5 million settlement payment for cleanup of a polluted lead smelter site until Chapter 11 debtor ASARCO LLC finds out whether the settlement amount can be set off from any judgment ASARCO receives in a separate action would be "illogical and inequitable," a Texas federal bankruptcy judge held Nov. 19 in granting Missouri summary judgment and ordering ASARCO to allocate the funds to the state (In re: ASARCO LLC, et al., No. 05-21207, S.D. Texas Bkcy.; 2013 Bankr. LEXIS 4901).

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