Judge OKs $84M Deal Over Asbestos Coverage

Law360, New York (January 10, 2011, 4:58 PM EST) -- A bankruptcy judge on Monday approved an $84 million settlement between W.R. Grace & Co. and a group of insurers that will help fund a trust for the payment of asbestos-related liability claims in the chemical manufacturer’s reorganization.

Judge Judith K. Fitzgerald said at a hearing in the U.S. Bankruptcy Court for the District of Delaware that the risk of litigation was considerable on both sides and that she would approve the settlement with Continental Casualty Co. and Continental Insurance Co. once the debtors made minor...
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