Insurance Claimants Seek To Derail WR Grace Plan

Law360, New York (January 7, 2009, 12:00 AM EST) -- Though W.R. Grace & Co.'s Chapter 11 plan has yet to be confirmed, objections over the bankrupt materials company's reorganization proposal are rolling in, with insurance companies taking issue with the way asbestos claims are being handled.

On Monday, Seaton Insurance Co. and OneBeacon American Insurance Co. filed preliminary objections to the plan's confirmation in the U.S. Bankruptcy Court for the District of Delaware, joining a pack of others who have recently balked at the reorganization proposal.

“The plan has not been proposed in good faith...
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