UC, Grace Settle Asbestos Claims For $1.1M

Law360, New York (November 19, 2008, 12:00 AM EST) -- The University of California system will receive $1.1 million in asbestos damages from bankrupt materials company W.R. Grace & Co., according to the terms of a settlement approved by a judge Tuesday.

Under the agreement, filed in the U.S. Bankruptcy Court for the District of Delaware, Grace denied all allegations of liability or wrongdoing associated with asbestos allegations by the Regents of the University of California. Judge Judith K. Fitzgerald approved the settlement.

Grace consented to the settlement “because it is in the best interest of...
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