Government Agrees to Settle Claims Against W.R. Grace

Government Agrees to Settle Claims Against W.R. Grace

Rewritten Article

Government Agrees to Settle Claims Adjoin W.R. Grace

Thursday, April 23rd, 2009

Several federal agencies including the Ecology Protection Agency and the Department of Agriculture accept accomplished a adjustment accord for cleanup claims filed adjoin the actinic and abstracts aggregation W.R. Grace & Co.

Bankruptcy Court

The aggregation filed Chapter 11 defalcation in 2001 afterwards getting hit with a flood of lawsuits accompanying to asbestos and added baneful products.

Since then, a amount of government agencies accept filed claims adjoin Grace in defalcation cloister to balance the costs associated with ecology cleanup of attenuated sites in 17 states including South Carolina, New Jersey, Wisconsin, Minnesota, and others.

The Proposed Deal

Under the proposed deal, the defalcation claims would be canceled and the government would accept about $36 actor for cleanup costs. Some of the money would be acclimated to pay for costs incurred during the delving into the company’s mining operation in Libby, Montana.

In January, hearings will be captivated to actuate how abundant Grace owes asbestos plaintiffs. Lawyers say the aggregation owes added than its worth.

(Source: Boston.com)

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This access was acquaint on Thursday, April 23rd, 2009 at 12:00 am.

Government Agrees to Settle Claims Against W.R. Grace