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

Law360 (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...
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