W.R. Grace To Pay $250M For Asbestos Cleanup

Law360, New York (March 12, 2008, 12:00 AM EDT) -- Bankrupt industrial giant W.R. Grace & Co. has agreed to pay $250 million – the largest Superfund settlement ever – to cover cleanup and investigation costs related to asbestos contamination in Libby, Mont., authorities said Tuesday.

The action settles a bankruptcy claim the federal government brought against W.R. Grace to recover costs for cleaning up contaminated schools, homes and businesses in the northwestern Montana town, the U.S. Department of Justice and U.S. Environmental Protection Agency said in a joint statement.

The settlement agreement, filed Tuesday in...
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