WR Grace Disclosure Statement Draws Objections

Law360, New York (October 20, 2008, 12:00 AM EDT) -- A statement explaining W.R. Grace’s proposed plan for repaying numerous plaintiffs with asbestos damage claims has drawn more than 20 objections, alleging the plan does not treat creditors fairly and that the explanation is unclear.

Parties that filed objections to the disclosure statement, which explains Grace’s proposed exit from Chapter 11 bankruptcy, include asbestos plaintiffs that the plan was designed to address as well as lenders and insurance companies.

Columbia, Md.-based Grace, which conducts both mining and manufacturing to provide specialty materials, filed for reorganization bankruptcy...
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