* Grupo Mexico files rehearing motion against decision
* Dispute focuses on 2005 deal involving Minera Mexico
MEXICO CITY, Sept 11 Mexican mining firm Grupo
Mexico said on Tuesday it had filed a motion against a ruling by
the Delaware Supreme Court, which had ordered it to pay around
$2 billion to Southern Copper Corp over an asset sale.
The Delaware court on Aug. 27 affirmed an earlier decision
by a lower court relating to a 2005 deal in which Southern
Copper bought Minera Mexico from Grupo Mexico,
which also controlled Southern Copper.
That court ruled in October 2011 that Southern Copper
overpaid by $1.263 billion, and ordered Grupo Mexico to repay
the difference to Southern Copper. The court added interest to
the damage award, which brought the total to about $2 billion.
Grupo Mexico said it had presented on Tuesday a motion at
the Delaware Supreme Court for the case to be reheard.
In the August ruling, the Delaware court also affirmed a
controversial $304 million attorneys' fee approved by the Court
of Chancery for the lawyers representing the shareholders who
brought the case.
The attorneys' fee was the largest ever of its kind awarded
by Delaware's Court of Chancery, one of the country's busiest
courts for big shareholder disputes.
Defendants blasted the fee for amounting to $35,000 an hour,
more than 30 times the rate in comparable cases.