Asarco granted court permission to settle non-asbestos toxic tort claims with minor claimants

By Jennifer Lanning Drey

Portland, Ore., March 3 - Asarco LLC was granted court approval to settle claims with minor claimants under an already approved $27.97 million settlement with non-asbestos toxic tort claim holders, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

According to the filing, many of the claimants whose claims are resolved under the settlement are minors, and various states have laws that require specific court approval of settlements with minors.

As previously reported, about 850 claims were filed against Asarco for a total of at least $1.47 billion alleging traditional toxic tort, personal injury, environmental property damage and related breach of settlement. The amount does not include many claims with unstated amounts.

Asarco, a Tucson, Ariz., mining company, filed for bankruptcy on Aug. 9, 2005. Its Chapter 11 case number is 05-21207.

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