July 18, 2019 / 9:13 PM / 6 months ago

9th Circuit rejects Asarco's cleanup claim against Union Pacific

Copper miner Asarco cannot recover part of its estimated $485 million in cleanup costs at a Superfund site in Idaho from Union Pacific Railroad because Asarco released its claims against the company in a previous settlement, a federal appeals court ruled.

The settlement, reached in 2008 during Asarco’s bankruptcy proceedings, did not specifically mention Asarco’s claim against Union Pacific, but evidence showed that both parties meant for the agreement to be a global resolution of all claims between them involving the Superfund site, a unanimous three-judge panel of the 9th U.S. Circuit Court of Appeals said on Wednesday.

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