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.
A unit of Vedanta Resources Plc , the mining company controlled by billionaire Anil Agarwal , is seeking to defeat a lawsuit over its failure in 2008 to complete the $2.6 billion purchase of copper-mining company Asarco LLC.
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.
A U.S. unit of Grupo Mexico SAB , Mexico’s biggest mining company, accused the U.S. Environmental Protection Agency of destroying evidence showing a company smelter didn’t cause lead pollution in Omaha, Nebraska.
Grupo Mexico SAB’s U.S. mining unit must pay $122.4 million in fees and $6.5 million in expenses to the Houston law firm the Mexican copper producer spent six years fighting in federal courts in Texas.
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, said it plans to merge its Asarco LLC and Southern Copper Corp. units into a single business to save costs after regaining control of Asarco late last year.