$5M WR Grace Asbestos Settlement Gets Final Nod

Law360, New York (August 17, 2011, 6:33 PM EDT) -- A bankruptcy judge on Tuesday approved a settlement between W.R. Grace & Co. and California that will see the chemical company pay nearly $4.9 million for the cleanup of 16 asbestos-damaged properties throughout the state.

U.S. Bankruptcy Judge Judith K. Fitzgerald signed off on the deal, which Grace and the California Department of General Services reached in July to resolve asbestos claims that have been in dispute since March 2003. None of Grace's creditors objected to the settlement.

The largest single claim among the 16 is...
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