WR Grace Gets OK To Bid At Secret Auction

Law360, New York (July 25, 2011, 6:16 PM EDT) -- A Delaware federal judge on Monday approved a request by W.R. Grace & Co. to bid at a secret auction for a potentially critical acquisition as the bankrupt chemical maker claws its way out of a long-running Chapter 11 case.

U.S. Bankruptcy Judge Judith K. Fitzgerald signed off on the company's motion, authorizing Grace to compete in the auction, if it wants to, for undisclosed assets. Any completed transaction won't result in a merger or consolidation, the order said.

Grace asked the court in June for...
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