WR Grace Bankruptcy Plan Favors Company, 3rd Circ. Told

Law360, Philadelphia (June 17, 2013, 8:06 PM EDT) -- In arguments before the Third Circuit on Monday, entities including the Canadian government and several major lenders said a bankruptcy reorganization plan approved for W.R. Grace & Co. left them undercompensated for their claims while favoring asbestos plaintiffs who sued the company directly.

Among the challengers, who argued before a three-judge Third Circuit panel in Philadelphia for nearly four hours, is a group of powerhouse banks who claim they’re owed nearly $200 million in additional interest because Grace was allowed to pay a lower interest rate...
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