Asarco creditor agrees to reduce equipment purchase term note claim to $2.09 million

By Caroline Salls

Pittsburgh, May 23 - Asarco LLC creditor Wachovia Financial Services, Inc. has agreed to reduce its equipment purchase term note claim to $2.09 million from $2.34 million, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

Asarco said the claim settlement resolves a potential claim dispute and avoids the need for a formal claim objection.

According to the motion, the $2.34 million claim was included in a $3.42 million two-part claim filed by Wachovia against Asarco.

The other portion of the original claim, which dealt with executory contracts, was resolved through a previous settlement.

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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