Billionaire Anil Agarwal, who controls London-based Vedanta Resources Plc, said he regrets investing 500 billion rupees ($8 billion) on an aluminum complex in India that’s faced a shortage of raw materials.
BankUnited Financial Corp., the holding company whose bank was taken over by regulators on May 21, filed for Chapter 11 protection the next day in Miami, listing assets of $37.7 million against debt totaling $560 million.
The lawyers who previously attempted without success to stop the Chrysler LLC sale process have new clients and are again seeking to block the government-backed rescue that pays some unsecured creditors more than secured noteholders.
Grupo Mexico SAB’s Asarco unit asked a U.S. judge to throw out the $219.5 million settlement of its Omaha, Nebraska, lead-contamination case, claiming the true source of the pollution was concealed by a U.S. Environmental Protection Agency official who is under criminal investigation.
Grupo Mexico SAB’s Asarco LLC won $82.8 million in a lawsuit against copper producer Sterlite Industries (India) Ltd. over a failed deal to buy Asarco out of bankruptcy, less than the $2.28 billion it was seeking.
Sterlite Industries (India) Ltd., the nation’s largest copper producer, headed for the highest in six months in Mumbai trading after a court ruling on the damages to be paid for breaking an agreement to buy Asarco LLC.
Grupo Mexico SAB, the nation’s largest mining company, dropped plans to merge its Asarco LLC and Southern Copper Corp. businesses into a single unit within its mining business after some shareholders challenged the plan.