Asarco asbestos claimants to have official committee representation

By Caroline Salls

Pittsburgh, Aug. 15 - Asarco LLC's U.S. Trustee was ordered to appoint an official committee of asbestos claimants for the company's Chapter 11 bankruptcy case, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

According to the motion, the official committee of unsecured creditors for the company's subsidiary debtors already represents creditors asserting asbestos-related claims against the subsidiary debtors.

As a result, Asarco asked the court to direct the U.S. Trustee to appoint the current members of the subsidiary committee and three new members who have direct asbestos-related premises liability claims against Asarco to represent the entire class of creditors with asbestos claims against Asarco and the subsidiary debtors.

Although a number of direct, asbestos-related premises liability claims have been asserted against Asarco, the company said no asbestos claimant sits on its official committee of unsecured creditors.

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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