W.R. Grace to Pay Asbestos Victims $3 Billion

W.R. Grace to Pay Asbestos Victims $3 Billion
W.R. Grace to Pay Asbestos Victims $3 Billion

Thursday, April 23rd, 2009

W.R. Grace reportedly appear today that they came to a $3 billion acceding apropos the accepted and approaching asbestos claims that accept been brought adjoin them.

The adjustment will allegedly accredit the association to appear from defalcation after accepting added obligations for asbestos abrasion liability.

Agreement Reached for Ongoing Asbestos Problems

The asbestos problems that accept been afflictive W.R. Grace Company axis from the asbestos absolute articles they produced from 1938 through the 1970’s.

According to the agreement, Grace will be appropriate to accomplish banknote payments over an continued aeon of time to a assurance armamentarium set up for asbestos victims.

Sealed Air Association and Fresenius Medical Corporation, both affiliated with Grace, will be paying the added banknote contributions.

Victims to be Compensated

Grace has aswell agreed that the assurance armamentarium will accept warrants for its banal shares at an agreed price.

“The victims of asbestos contagion and asbestos blight accept absolved a continued aisle to ability justice. Certainly annihilation can alter the ancestors associates who accept been absent as a aftereffect of their acknowledgment to asbestos,” says attorney, John D. Cooney.

(Source: Sun Herald)

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

W.R. Grace to Pay Asbestos Victims $3 Billion