Law360, New York (June 17, 2008, 12:00 AM ET) -- The anticipated Chapter 11 exit of W.R. Grace and Co. is in danger, with the financial backers demanding that the beleaguered mining company pay about $100 million in extra interest payments, which the company says it does not possess.
On Friday, W.R. Grace objected to the additional demands posed by J.P. Morgan Chase and other prepetition bank lenders. The company asked U.S. Bankruptcy Judge Judith Fitzgerald to step in and determine whether or not the lenders are actually owed the extra money.
“Debtors recently received notice...
Lenders' Demands Threaten W.R. Grace Exit
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