Asarco looks to extend exclusive vote solicitation period to Sept. 30

By Caroline Salls

Pittsburgh, April 23 - Asarco LLC wants to extend its exclusive plan of reorganization vote solicitation period to Sept. 30 from May 18, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of Texas.

According to the motion, under the current confirmation timeline, solicitation will not be completed by May 18.

Asarco said its disclosure statement approval hearing is scheduled for April 28, and, if the court approves the statement, vote solicitation will not begin until early May.

The company said it has asked the court to set May 29 as the voting deadline.

However, Asarco said it is seeking an extension of the exclusive period to Sept. 30 to coincide with its plan confirmation deadline.

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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