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Can Simpson Thacher & Bartlett succeed for Grupo Mexico where Milbank, Tweed, Hadley & McCloy failed last year? It’ll be months before the Delaware Supreme Court answers that question, when it rules on whether Delaware Chancellor Leo Strine Jr. was right to award shareholders a whopping $1.9 billion over claims that Grupo Mexico forced Southern Peru Copper Company to overpay for a Grupo mining subsidiary. But now that the company has filed a 35-page opening appellate brief, we at least know how Grupo’s lawyers are framing Chancellor Strine’s October ruling: as a slap in the face to Delaware law that contradicts Strine’s own previous findings in the case. Grupo brought in Simpson Thacher’s Bruce Angiolillo to handle the appeal late last year, after Milbank’s Alan Stone failed to convince Chancellor Strine that the Southern Peru deal was above board and that Grupo, as Southern Peru’s majority shareholder, hadn’t breached its duty of loyalty to shareholders.

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