Grace Emerges from Chapter 11

WR Grace & Co of Columbia, MD has announced that its joint plan of reorganization became effective last week, marking the company’’s emergence from Chapter 11 after almost 13 years. The plan established two independent trusts to compensate asbestos personal injury claimants and property owners. The trusts will be funded with more than US$4 billion from a variety of sources including cash, warrants, deferred payment obligations, insurance proceeds, and from former affiliates.

Volume 28 issue 3

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