Judge Allows W.R. Grace To Sell Contaminated Sites

Law360, New York (April 22, 2008, 12:00 AM EDT) -- A bankruptcy judge has given W.R. Grace & Co. the green light to sell off 10 polluted industrial sites in a deal that the company has estimated will help it eliminate more than $12.5 million in environmental liabilities.

U.S. Bankruptcy Judge Judith K. Fitzgerald of the District of Delaware issued an order Monday approving the sale to Environmental Liability Transfer Inc., an environmental acquisition development company based in St. Louis.

Under the agreement, ELT will be required to deposit $11 million into an environmental trust responsible...
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