W.R. Grace & Co. Reaches Tentative $2 Billion Settlement on Asbestos Claims

It was announced today that chemicals giant, W.R. Grace & Co., had reached a tentative $2 billion settlement on asbestos claims with a committee of asbestos personal injury claimants, a representative handling future claims and a committee of Grace stockholders. The settlement should clear the way for Grace to emerge from its bankruptcy reorganization case. The settlement will be a centerpiece of Grace's reorganization plan, which must be approved by U.S. Bankruptcy Judge Judith Fitzgerald in Pittsburgh.