WR Grace Reaches $60M Deal With Zonolite Plaintiffs

Law360, New York (November 25, 2008, 12:00 AM EST) -- Bankrupt materials company W.R. Grace & Co. has agreed to settle product liability claims brought on behalf of thousands of homeowners who may have been exposed to asbestos fibers in Grace’s Zonolite attic insulation.

The Columbia, Md.-based mining, chemical and specialty materials producer agreed to pay $60 million into a property damage trust to settle the claims, along with possible additional contingency funds if the trust drops below a certain asset threshold, according to a document filed Monday with the U.S. Securities and Exchange Commission....
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