Asbestos Claimants File Plan In W.R. Grace Ch. 11

Law360, New York (November 6, 2007, 12:00 AM EST) -- Less than five months after a bankruptcy judge terminated chemical manufacturer W.R. Grace & Co.'s exclusivity period, asbestos claimants in the Chapter 11 case have filed their own version of a reorganization plan.

The newly proposed plan, filed on Monday evening, is based on the premise that Grace's asbestos liabilities may run well past $4 billion, which would possibly make it near impossible for the company to find financing.

“That's the biggest difference between our plan and one W.R. Grace filed in 2005,” said Peter Van...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.