Asarco requests four-month exclusivity extension

By Caroline Salls

Pittsburgh, Dec. 4 - Asarco LLC requested the fifth extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company wants to extend its exclusive plan filing period to May 11 from Jan. 5 and the solicitation period to July 11, 2007 from March 9.

According to the motion, the extension is warranted because of case complexities, including environmental clean-up obligations, asbestos personal injury claims, labor issues and bond debt.

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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