W.R. Grace Shareholders Call For Valuation Hearing

Law360, New York (September 11, 2006, 12:00 AM EDT) -- Shareholders of bankrupt W.R. Grace & Co. are seeking court approval of a contest to determine the value of the specialty chemical manufacturer when it emerges from bankruptcy.

One group of creditors, made up of those harmed by asbestos exposure, estimated the company will be worth $2.9 billion, but shareholders in the bankruptcy case came up with a larger figure at a court hearing Monday in the U.S. Bankruptcy Court in Pittsburg, Penn.

Holders of equity have tallied up the value of the reorganized company to...
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