Where to Start

Free Info Packet

Note: The use of the Internet for communications with the firm will not establish an attorney-client relationship and messages containing confidential or time-sensitive information should not be sent. I agree that submitting this form does not create an attorney-client relationship and that Seeger Weiss LLP, Flood Law Office, and Melinda J. Helbock, A.P.C. will use the information I am providing to check for conflicts of interest to determine if the firm can assist me with my legal inquiry. I Agree:*

Privacy protected. All information held in the strictest confidence.

Featured Expert: Daniel Powers, M.D. Board Certified Diagnostic Radiologist. Learn More

Asbestos Claims

W.R. Grace & Co. makes reorganization plan for asbestos claims

November 16, 2004
W.R. Grace & Co. filed a reorganization plan in its Chapter 11 bankruptcy case, which includes a proposal to establish a trust for the asbestos claims against the manufacturer. The reorganization plan is Grace's proposal for how to settle the asbestos and other Chapter 11 related claims since filing for bankruptcy protection in April 2001 after becoming overrun by asbestos lawsuits.

Grace said in a news release it is proposing a maximum aggregate payment for all asbestos related liabilities and related expenses of $1.6 billion. The asbestos trust would cover all pending and future asbestos related claims, including personal injury and property damage claims, in addition to administrative costs and legal expenses. For asbestos personal injury claims, the option of either litigating their claims against the trust or accepting settlements if meeting the eligibility criteria would be given. The asbestos property damage claimants would be required to litigate their asbestos claims through the trust.

Grace has requested a December 20 hearing to decide its disclosure statement, which must be approved by the court before votes on the plan can be solicited.

More Asbestos Law News....

top of page