WR Grace Cuts $2M Deal To End Asbestos Insurance Battle

Law360, New York (October 16, 2012, 2:25 PM EDT) -- W.R. Grace & Co. on Friday asked a Delaware bankruptcy court to approve a settlement with Dairyland Insurance Co. in which the insurer will pay $2 million into a trust to help cover pending asbestos-related claims against W.R. Grace and resolve a dispute over liability coverage.

Dairyland and W.R. Grace had been battling over their respective rights and obligations under an insurance policy from 1983. The chemical conglomerate reached an $84 million settlement earlier this year with other insurers over asbestos claims as part of its...
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