Asarco U.S. Trustee names Warner as examiner candidate

By Caroline Salls

Pittsburgh, April 15 - Asarco LLC's U.S. Trustee has requested court approval to name Michael Denis Warner as the court-approved examiner, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, the examiner appointment was approved in March at the request of parent company Asarco Inc.

Asarco Inc. said the examiner's duties should include a valuation of Asarco LLC; an investigation of the good faith of asbestos claim settlements; and an investigation into whether Asarco has been properly fulfilling its fiduciary duties to the parent.

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

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