WR Grace Submits Settlement With Insurers In Ch. 11

Law360, New York (August 27, 2010, 4:26 PM EDT) -- Bankrupt chemical manufacturer W.R. Grace & Co. has asked a court to approve a settlement with a group of insurance companies that would resolve the insurers’ objections to how asbestos-related liability claims would be handled under W.R. Grace’s reorganization plan.

The settlement would allow insurers to pay $25 million into a trust established by the reorganization plan, absolving them of any obligation to cover asbestos claims against W.R. Grace, according to a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware....
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