$116M In Grace Settlements With Insurers OK'd

Law360, New York (September 10, 2009, 3:44 PM EDT) -- A judge has signed off on settlements between bankrupt materials company W.R. Grace & Co. and insurers including Allstate Insurance Co. resolving disputes over the insurers’ proposed contributions to an asbestos claims liability trust — a crucial element in a proposed reorganization plan for Grace.

Judge Judith K. Fitzgerald issued an order Wednesday in the U.S. Bankruptcy Court for the District of Delaware approving settlements with Allstate and a group of certain London market insurers, making more than $116 million in policy benefits available for the...
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