ASARCO v. Americas Mining Corp. (I)

BVLaw
Full Text of Court Cases
August 30, 2008
1021 Copper Ores
bankruptcy

ASARCO v. Americas Mining Corp. (I)
2008 WL 4009927(S.D. Tex.)
US
Federal Court
Texas
United States District Court
Navigant (plaintiff/debtor); Craig Pirrong (defendant)
Hanen

Summary

Fraudulent transfer claims in bankruptcy turn on multi-million dollar valuation of controlling interest in foreign mining company.
ASARCO v. Americas Mining Corp. (I)
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ASARCO  v. Americas Mining Corp., 2008 WL 4009927 (S.D. Tex.) (Aug. 30, 2008) By 2003, a century-old mining company had entered “the zone of insolvency,” according to its valuation and legal advisors. Its most valuable asset: a 54% controlling interest in a Peruvian copper concern, which was worth between $600 million and nearly $1 billion. When its parent company decided to purchase the asset, those same advisors warned the board of directors that it ...