Friday October 10, 4:00 pm ET PHOENIX--(BUSINESS WIRE)--In an October 7, 2008 hearing before the United States District Court for the Southern District of Texas, Brownsville Division, Americas Mining Corporation (AMC), a subsidiary of Grupo México, S.A.B. de C.V., presented oral arguments stating that, based on the evidence presented at trial, AMC did not cause any damage to ASARCO LLC’s (ASARCO) creditors when it acquired 54.2 percent of Southern Copper Corporation (SCC) from ASARCO in 2003. ASARCO continues to insist on return of the SCC stock as a remedy arising out of this transaction because the Court had earlier determined that AMC hindered and delayed certain ASARCO creditors. AMC argued, however, that ASARCO cannot meet its burden of proof as to any damages caused to ASARCO or its creditors because AMC has proposed a...
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