Feds Balk At W.R. Grace Plan To Sell Polluted Sites

Law360, New York (March 24, 2008, 12:00 AM EDT) -- The U.S. government has objected to W.R. Grace & Co.'s plan to sell off 10 contaminated industrial properties through its Chapter 11 bankruptcy proceedings, claiming that the proposed deal doesn't do enough to ensure those properties will be cleaned up.

In the government's objection, filed Friday in the U.S. Bankruptcy Court for the District of Delaware, Assistant U.S. Attorney General Ronald J. Tenpas takes issue with the specialty chemical company's plan to sell the properties to Environmental Liability Transfer Inc., an environmental acquisition development company based...
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