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Asarco Restructuring Successfully Completed
Grupo México, S.A.B. DE C.V. Announces That Today the Restructuring of Asarco has Been Successfully Completed, Ending the Chapter 11 Process Undergone by the Company. Gmexico Made a Cash Contribution of US$720 Million and Secured Financing for US$1.500 Billion to Make Total Contribution to Asarco for US$2.200 Billion, and With Asarco’S Available Cash, a US$3.630 Billion Payment was Made to Creditors.
Dec 09, 2009
Bankruptcy Court Judge Recommendation
Aug 31, 2009
GM to Conclude Chapter 11 Process
Grupo Mexico, Through its Subsidiary Americas Mining Corporation Filed a Reorganization Plan With the Bankruptcy Court of Corpus Christi, Which is Leading the Chapter 11 Proceedings of its Subsidiary Asarco, Providing for Full Payment of Principal Plus Accrued Interest, Meaning a 100% Cash Payment to Creditors. With This New Plan Grupo Mexico Reaffirms its Initial Intentions at the Start of the Chapter 11 Process, to PAY all its Subsidiary's Liabilities Once These HAD Been Defined. Consequently, AMC Will PAY US$2.4829 Billion, of Which US$2.2029 Billion Will be Paid on the Effective Date of the Plan Plus a One-Year Promissory Note for US$280.0 Million for the Asbestos Creditors.
Aug 17, 2009
Grupo Mexico Announced Directors Change(Spanish)
Feb 15, 2007
ILO Refinery Modernization Program Concluded(Spanish)
Feb 01, 2007
8/30/2016 9:18:28 PM