WR Grace Nears Ch. 11 Exit With Insurance Settlements

Law360, New York (January 31, 2012, 4:15 PM EST) -- A Delaware federal judge on Tuesday approved the final plan of reorganization and a settlement with insurers in W.R. Grace & Co.'s decadelong Chapter 11 proceeding, finally putting emergence from bankruptcy in the chemical manufacturer's near future.

U.S. District Judge Ronald Buckwalter denied a number of appeals of the approval the Delaware bankruptcy court had granted the reorganization plan in January 2010, confirming the joint plan in its entirety as well as a settlement between Grace and insurer Continental Casualty Co. and affiliated entities.

The plan...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.