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W.R. Grace Grants DOJ $34M Superfund Claim

Law360 (December 19, 2007, 12:00 AM EST) -- W.R. Grace & Co. settled an asbestos claim the federal government lodged in its Chapter 11 case, agreeing to cede an allowed general unsecured claim of $34 million for the cleanup of 33 Superfund sites.

Under the settlement, which still must receive the bankruptcy court's approval, the U.S. would also receive an administrative priority claim of close to $3 million, and other potentially responsible parties at the sites in question would receive an allowed general unsecured claim of $7.7 million.

The U.S. Department of Justice filed...
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