Grace Exits Bankruptcy | February 10, 2014 Issue - Vol. 92 Issue 6 | Chemical & Engineering News
 
 
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Volume 92 Issue 6 | p. 6 | News of The Week
Issue Date: February 10, 2014 | Web Date: February 7, 2014

Grace Exits Bankruptcy

Resolution: Asbestos claims sorted out after nearly 13 years of court protection
Department: Business
Keywords: bankruptcy, asbestos, catalysts, building products

W.R. Grace & Co. emerged from bankruptcy on Feb. 3 after nearly 13 years under court protection. The firm hammered out a series of settlements—the last one was finalized late last year—under which it will pay $4 billion to victims of asbestos-related diseases and for cleanup of asbestos contamination. It will also pay $1.1 billion to lenders.

Few bankruptcy cases have gone on for so long. Within the chemical industry, . . .

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