COLUMBIA, Md. (Legal Newsline) – After 13 years in bankruptcy due to costly asbestos lawsuits and cleanup efforts, W.R. Grace & Co. exited bankruptcy protection earlier this week.
Badmington
The company emerged from Chapter 11 bankruptcy on Monday, one of the longest in U.S. history, when its Joint Plan of Reorganization became effective, establishing two independent trusts to compensate asbestos personal injury claimants and cleanup efforts.
Together, the two trusts are funded by more than $4 billion from a variety of sources including, cash, warrants to purchase Grace & Co. common stock …