Corpus Christi, Texas – Asarco LLC, a bankrupt copper-mining company, won a judge’s approval of the settlement of more than $200 million worth of environmental claims for $27.3 million.
The settlements resolve pollution claims related to the company’s mining operations in Leadville, where the Environmental Protection Agency had been trying to keep contaminants from leaking into the Arkansas River.
Under the settlement approved Tuesday, Asarco won’t oppose $19.3 million in claims that the federal and Colorado governments will file in the bankruptcy case. The company will pay $2 million in cash to its joint-venture partner in its Colorado mining operations. That partner, Resurrection Mining Co., also will get an uncontested $6 million claim in Asarco’s bankruptcy case.
Additional business news briefs:
LONGMONT
Oskar Blues to open second brewery
Oskar Blues has leased an 18,000-square-foot facility in Longmont to open a second brewery. The new site will house a 50-barrel brewery and will handle the brewing and packaging of Oskar Blues’ canned and kegged beer.
The current brewery in Lyons will continue to produce beer for its brewpub, allowing the company to serve a broader array of beers at the pub.
BOULDER
Pharmion drug wins FDA fast-track status
Pharmion Corp. of Boulder announced Wednesday that the Food and Drug Administration has granted fast-track designation for oral Azacitidine in the treatment of myelodysplastic syndromes, a disorder that affects the body’s ability to produce normal blood cells in bone marrow.
The designation expedites the review of drugs that are intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs.
NEW YORK
Apple stock rises on new-iPod speculation
Apple Inc. rose as much as 5 percent on speculation that the company will debut new versions of its iPod media player and that its iTunes store may start selling Beatles music.
The company e-mailed invitations Tuesday to a Sept. 5 event called “The Beat Goes On.” They show a silhouetted dancer carrying an iPod with album covers in the background, suggesting Apple may debut new iPods, according to analysts.
LONGMONT
Twin Peaks Mall sold to developer
Twin Peaks Mall has been purchased by Panattoni Development Co., a national real-estate firm. The property was acquired from the original developer and owner, CBL Properties.
The sale price of the mall, which occupies 56 acres and 556,000 square feet of retail space, was not disclosed.
According to Will Damrath, a partner in Panattoni’s Denver office, the company is considering an extensive redevelopment of the property but detailed plans are still under review.
Twin Peaks Mall was originally developed in 1985 and has 80 tenants, including Dillard’s and Sears.
NEW YORK
Charges against Quattrone dismissed
A U.S. judge formally approved a request by prosecutors to dismiss all remaining charges against former Credit Suisse Group banker Frank Quattrone.
The decision Wednesday came four years after Quattrone, 51, was accused of obstructing justice and 17 months after his conviction for the crime was reversed.
Last August, the government agreed to drop its case if Quat trone didn’t break the law for a year.
WASHINGTON
Circus producer sues animal-rights groups
The producer of Ringling Bros. and Barnum & Bailey Circus, the self-proclaimed “Greatest Show on Earth,” sued animal-rights groups, claiming they paid a former circus employee to help them fight alleged abuses.
The groups are accused in the complaint – brought under the federal Racketeer Influenced and Corrupt Organizations Act, which was originally enacted to combat organized crime – of engaging in bribery, obstruction of justice and fraud.
Feld Entertainment Inc., which filed the suit Tuesday in federal court in Washington, says the American Society for the Prevention of Cruelty to Animals and other groups paid more than $100,000 to Tom Rider, a former employee, to file lawsuits against the company and testify before U.S. lawmakers on proposed legislation.
NEW YORK
Lawyers dampen bid to unlock iPhones
Hackers have figured out how to unleash Apple’s iPhone from AT&T’s cellular network, but those hoping to profit from the procedure could face legal problems.
At least one of the companies hoping to make money by unlocking iPhones said it is hesitating after calls from lawyers representing the phone company.
INDIANAPOLIS
Popcorn maker omits chemical linked to ills
Weaver Popcorn Co., one of the nation’s top microwave popcorn makers, has switched to a new butter flavoring, replacing a chemical linked to a lung ailment in popcorn-plant workers.
The Indianapolis-based company began shipping new butter-flavored microwave popcorn a few weeks ago that contain no diacetyl, a chemical undergoing national scrutiny because of cases of bronchiolitis obliterans, a rare life-threatening disease often called popcorn lung.
