Legal Opinion
Asarco, L.L.C. v. Montana Resources, Inc.
Court of Appeals for the Fifth Circuit
Decided June 2, 2017No. 16-40682PublishedCited by 26 opinions
1Opinion of the Court
GREGG COSTA, Circuit Judge:
ASARCO, L.L.C., through an affiliate, became partners in a Montana copper mine with Montana Resources, Inc. (MRI). Because of financial troubles in the early 2000s, ASARCO was unable to meet cash calls the partnership required. When it failed to contribute on four occasions, MRI covered ASARCO’s portion. But this was not an act of benevolence. By covering its partner’s cash calls, MRI diluted ASAR-CO’s interest in the partnership from 49.9% to nothing.
About eight years after it lost its interest in the mine, ASARCO sent a letter invoking a clause in the partnership…
2Cases cited24 opinions
- Thomas v. Union Carbide Agricultural Products Co.Supreme Court of the United States · 1985
- Browning Manufacturing v. Mims (In Re Coastal Plains, Inc.)Court of Appeals for the Fifth Circuit · 1999
- Agnes E. NILSEN, Plaintiff-Appellant, v. the CITY OF MOSS POINT, MISSISSIPPI, Defendant-AppelleeCourt of Appeals for the Fifth Circuit · 1983
- Kaspar Wire Works, Inc. v. Leco Engineering and MacHine Inc.Court of Appeals for the Fifth Circuit · 1978
- Laurel Sand & Gravel, Inc. v. WilsonCourt of Appeals for the Fourth Circuit · 2008
19 more not listed; retrieve them via the Exa API.
3Cited by26 opinions
- In re TaborUnited States Bankruptcy Court, N.D. Illinois · 2018
- Cont'l Cas. Co. v. Indian Head Indus., Inc.Court of Appeals for the Sixth Circuit · 2019
- Students for Fair Admissions v. Univ of TXCourt of Appeals for the Fifth Circuit · 2022
- OJSC Ukrnafta v. Carpatsky Petroleum Corp.Court of Appeals for the Fifth Circuit · 2020
- Argonaut Insurance v. Falcon VCourt of Appeals for the Fifth Circuit · 2022
21 more not listed; retrieve them via the Exa API.