ASARCO Bankruptcy Case Summary: Texas Sites Settlement Information Sheet

The Texas Sites Settlement Agreement resolves claims pertaining to past and potential future cleanup costs associated with the American Smelting and Refining Company (ASARCO)-owned portions of two sites in the State of Texas. The agreement requires the establishment of a trust to oversee cleanup of the sites and transfers certain real property that ASARCO owns, but is not operating, to the trust. The State of Texas is overseeing this trust and receiving the funds. EPA is a signatory to this agreement.

The settlement agreement provides funding of over $52 million to cleanup the sites and to fund the administrative expenses associated with the custodial trust.

The Department of Justice and ASARCO filed the settlement agreement with the United States Bankruptcy Court for the Southern District of Texas Corpus Christi Division on March 13, 2009. The Court approved the settlement agreement on June 5, 2009. The trust agreement associated with this settlement was filed with the Bankruptcy Court on December 9, 2009.

Parties to the Settlement

The United States, the State of Texas, and ASARCO, LLC are parties to the settlement agreement.

Site Information

The settlement agreement provides $10.4 million for administrative costs.

More information on the EPA sites is available from the EPA Funded Sites and Communities web page.