Grupo Mexico versus Asarco

Reported in the Wall street Journal : Two court cases in Texas are set to begin Wednesday that will help determine the future of Mexican conglomerate Grupo Mexico SA and that of its former U.S. mining unit Asarco, a company the Mexican firm bought amid controversy a decade ago and later placed in bankruptcy protection. In Corpus Christi, a U.S. bankruptcy court will receive bids to buy Asarco out of bankruptcy protection. Any bid will have to be rich enough to satisfy more than $1 billion in outstanding cleanup claims by federal and state governments against Asarco for environmental damage associated with a century of mining across the United States.