WR Grace To Pay $2M For Texas Asbestos Cleanup

Law360, New York (April 17, 2012, 3:58 PM EDT) -- W.R. Grace & Co. told a Delaware bankruptcy court last Tuesday it had reached a $2.2 million settlement with the U.S. for the costs of cleaning up its asbestos-contaminated former facility in Texas, resolving the government's environmental claim against the company in its bankruptcy proceedings.

If U.S. Bankruptcy Judge Judith K. Fitzgerald approves the settlement agreement ending the Comprehensive Environmental Response, Compensation and Liability Act claim, the U.S. will be granted a general unsecured claim of $2.2 million.

The bankrupt chemical company entered into a multisite...
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