Judge Shakes Head At W.R. Grace's Exclusivity

Law360, New York (July 26, 2007, 12:00 AM EDT) -- In a blow to W.R. Grace, a bankruptcy judge has terminated the beleaguered chemical manufacturer's exclusivity period, siding instead with asbestos claimants who said the move could prompt the company to the bargaining table.

U.S. Bankruptcy Judge Judith Fitzgerald said in an order signed Thursday that Grace has been unable to forge an agreement or achieve a consensus with respect to asbestos personal injury liabilities and certain asbestos-related property damage claims despite over six years of exclusivity.

Judge Fitzgerald said she agreed with various counsel that,...
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