Asarco bid protections appeals dismissed, bankruptcy court rulings affirmed

By Caroline Salls

Pittsburgh, Sept. 29 - Two appeals filed by Asarco LLC parent Asarco Inc. and Americas Mining Corp. were dismissed Monday by the U.S. District Court for the Southern District of Texas for "lack of jurisdiction."

As previously reported, Asarco Inc. and Americas Mining appealed the bankruptcy court orders granting interim and final approval of the bid protections for selection of an Asarco LLC plan of reorganization sponsor in July.

In Monday's appeal ruling, judge Hayden Head said the interim and final bid protections rulings do not constitute final orders under bankruptcy law.

However, in case the interim and final bid protections orders are deemed to be final and appealable, Head affirmed the bankruptcy court's rulings.

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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